Ratings

Moody's shifted the outlook on RTA and CTA's $5 billion of debt as Chicago and Illinois outlooks stabilize

The pension funding problems reflect several decades of underpayments, said Rep. Jonathan Steinberg, who chairs a commission formed to tackle the problem.

S&P Global Ratings lowered the Connecticut city to BBB-plus from A-minus, and Fitch Ratings dropped the city to BBB from A-minus.

The Ohio-based operator is acquiring the operations of HCR ManorCare.

The upgrade comes ahead of a $619 million bond sale.

The Central Basin Municipal Water District was downgraded three notches to Baa1 by Moody's, which assigns a negative outlook.

Moody's changed the outlook on its Aa3 rating to positive from stable.

Illinois' 10-year GO paper is trading 10 to 15 basis point tighter than before its rating outlook went to stable from negative.

S&P Global Ratings boosted Michigan's general obligation bonds to AA from AA-minus.

Moody's revised the outlook on $3 billion of Chicago parks, water and sewer bonds to stable.

Illinois' Baa3 rating remains one notch above junk, but the outlook is now stable, up from negative.

Moody's upgraded the bonds issued to build the Mets' Citi Field while boosting its outlook for Yankee Stadium bonds.

Luke Bronin, in an interview at the Brookings Municipal Finance Conference, said Connecticut's capital city is "in a stronger position than we’ve been in a long time."

Fitch Ratings affirmed its A-minus rating and positive outlook for toll revenue bonds issued for the South Bay Expressway.

Moody's Investors Service affirmed the state’s ratings and revised its outlook to stable from negative.

Chicago's 2017 CAFR offers deep dive into Chicago's fiscal gains and deeper strains.

CPS inches up speculative grade credit ladder, which in turn helps garner Chicago a stable outlook.

Moody's has cut the ratings of 31 Illinois municipalities due in part to pension strains over the last 18 months.

Fitch Ratings says the application of its new rating criteria is not expected to result in widespread downgrades.

The combined $10 million payment by Aetna, The Hartford and Travelers is a positive for Connecticut's struggling capital, according to Moody's Investors Service.