Indiana

CHICAGO — Moody’s Investors Service Tuesday downgraded its long-term rating on DePauw University to A3 from A2, warning that the small Indiana liberal arts school suffers from deeply imbalanced operations.

CHICAGO — Whiting, Ind., will remarket $200 million of environmental facility revenue bonds as early as Tuesday on behalf of BP Products North America Inc., which operates its second-largest refinery in the northwest Indiana town.

CHICAGO — Indianapolis will head to market next week with $98 million of debt that taps the Midwestern disaster-area bond program to finance a new private development to benefit Eli Lilly and Co. — a project officials say will transform the city’s central downtown business district.

Officials from Porter County said they will consider filing a new lawsuit with the Indiana Supreme Court after the state Court of Appeals last week declared the county could not withdraw from the Northwest Indiana Regional Development Authority.

CHICAGO — Bondholders owed more than $50 million by an Indiana hospital in receivership would receive a mere $3 million or less under a proposed sale of the facility’s most valuable assets.

Indiana would prohibit bond issuers from hedging more than 20% of their outstanding debt in a bill that passed the state Senate Tuesday and now heads to the House.

A committee of the Indianapolis Marion County City-County Council Wednesday approved Mayor Greg Ballard's plan to issue up to $98 million of bonds to support construction of a new Eli Lilly & Co. campus. The full council will consider the measure Feb. 28.

BRADENTON, Fla. — A plan to cut $500 million of costs from the $4.1 billion Louisville-Southern Indiana Ohio River Bridges Project has triggered the need for additional federal environmental studies.

CHICAGO — The Indiana Senate could vote as early as Tuesday on a bill that would allow fiscally distressed cities and towns to file for bankruptcy.

CHICAGO — Indianapolis hopes to start reaping the benefits this year of a $1 billion downtown development that features an expanded Indiana Convention Center connected to a new football stadium and the world’s largest Marriott hotel complex.

CHICAGO — Indiana Gov. Mitch Daniels has named a new state public finance director to replace outgoing director Jennifer Alvey, who leaves the post for the private sector this week.

CHICAGO — Indiana lawmakers Wednesday morning held a first hearing on a bill that would allow local units of government to file for Chapter 9 bankruptcy protection.

CHICAGO — Moody’s Investors Service last week cut its rating one notch to A2 and assigned a negative outlook to nearly $1 billion of Indianapolis water bonds.

Standard & Poor's raised its long-term and underlying ratings on Indiana University to AA-plus from AA.

A state regulatory commission will hold a public hearing next week on Indianapolis' plan to sell its water and sewer systems to a nonprofit utility.

Tax-exempt toll revenue bonds and public-private partnerships may be used to finance the $4.1 billion Louisville-Southern Indiana Ohio River Bridges Project.

CHICAGO — Triple-A rated Indiana, which was hit harder and earlier than many states by the national recession, will likely start to enjoy a revenue rebound the next three years, budget officials said this week.

CHICAGO — The Indianapolis Airport Authority on Tuesday will price a yet-to-be determined amount of refunding bonds to take advantage of the federal alternative-minimum tax holiday.

CHICAGO — Indianapolis will lease its parking meters for 50 years to a private company under a controversial plan by Mayor Greg Ballard that was narrowly approved Monday by the city-county council.

CHICAGO — Whiting, Ind., this week will issue $60 million of tax-exempt refunding bonds on behalf of BP Products North America Inc., which is in the midst of a $3.8 billion expansion of its Whiting-based oil refinery.