Iowa

The Iowa Fertilizer Co. LLC’s construction and cash flow troubles led Fitch Ratings to downgrade deeper into junk almost $1.2 billion of project bonds that are now under an Internal Revenue Service cloud.

The issuers of the Midwest sold $41 billion of municipal bonds in the first half of 2016, spurred by increased new money issuance, according to Thomson Reuters data.

An Iowa casino and racetrack is challenging the proposed loss of its tax-exempt status by the Internal Revenue Service, claiming it lessens the burdens of government and is a legitimate 501(c)(4) social welfare organization.

Iowa will return to the market twice this month after a six-year absence to snag refunding savings.

The Conroe Industrial Development Corporation in Texas has paid a penalty and agreed to redeem bonds under the Internal Revenue Service’s voluntary closing agreement program (VCAP) to settle a tax violation relating to bonds it issued in 2008 and refunded in 2012.

Coralville, Iowa’s general obligation bond rating moved closer to speculative grade amid balance sheet struggles due in part to its investment in recreational enterprises.

Standard & Poor's revised its outlook on the Iowa Board of Regents' University of Iowa Hospitals and Clinics to stable from negative after a decision to trim capital spending.

Fairfield, Iowa’s rating sank to the lowest investment grade at Moody’s Investors Service, which warned it could drop further over operating deficits that have strained the town’s balance sheet.

Moody's Investors Service has upgraded the rating of Winterset Community School District in Iowa to A1 from A2.