Ratings

Bolingbrook called the GO cut to BBB-plus from AA an attempt "to cause a de facto conversion" of a special sales tax district's debt to a general obligation.

While the legislation heading to Gov. J.B. Pritzker's desk will not affect CPS' rating in the short-term, the district's ability to manage labor conflict could affect credit quality over time, Fitch said.

Moody's downgraded St. Mary's College of California to Baa3 with a negative outlook, affecting $53 million in debt issued through the California

The action affects about $312 million of debt. The outlook, previously positive, is stable at the new, higher rating.

Arizona's second-largest city reported general fund surpluses in recent years, easing structural budget balance concerns that weighed on its ratings, Fitch said.

S&P Global Ratings raised the state flagship university's rating to AA-minus from A-plus.

Moody's dropped Sparrow Health's rating a notch as it's not yet factoring in the financial and operational benefits of its acquisition by UM Health, which won't extent to a debt guarantee.

Moody's downgraded $651 million of Main Line Health Services revenue bond debt to A1 from Aa3.

Hospital fiscal wounds have mounted this year and the balance sheet damage is expected to extend into 2023 as labor pressures show little sign of easing.

Fitch and S&P downgraded the city as it grapples with rising costs, limited revenue prospects and a looming pension funding spike.

The upgrades follow Fitch's upgrade of Morgan Stanley, the guarantor to the gas supplier in all of the transactions.

Fitch Ratings revised its outlook to stable from negative on BATA's AA-minus subordinate debt, retaining its stable outlook on AA-rated senior debt.

The borrowing arm of the Missouri Department of Transportation will take competitive bids on $489 million of new money debt Tuesday.

Both S&P Global Ratings and Kroll Bond Rating Agency revised their outlooks for Chicago general obligation bonds to positive from stable.

Fitch also affirmed the A rating on $800.3 million of senior lien seaport revenue bonds Miami-Dade County issued on behalf of its seaport department.

Chicago's upcoming general obligation sale will carry a Moody's rating for the first time since at least 2014.

Seven years after dropping Chicago to speculative grade citing pension funding, Moody's returned the city to investment grade, citing pension funding.

The rating agency lifted the outlook of the Los Angeles Unified School District, the nation's second largest, to positive.

Chicago, upgraded Friday by Fitch, will follow City Council's expected passage of a new 2023 budget next month with a new money general obligation bond issue.

The upgrade reflects the city's improving pension funding practices, commitment to a sound reserve position and ability to institute structural budget measures, Fitch said.