Minnesota

Michigan's budget director, John Roberts, is leaving in February to join Blue Cross Blue Shield of Michigan.

Hamline University in Minnesota is at risk of losing of its investment grade credit due to balance sheet strains after a downgrade to Baa3.

Minneapolis-based investment bank Dougherty & Co. LLC will extend its trading and sales reach with the acquisition of fellow Minneapolis-based municipal broker-dealer Cronin & Co. Inc.

Minnesota expects to close out its fiscal biennium June 30 with a $678 million balance, leaving the state $1.4 billion in surplus revenue available for the next two-year budget.

Joining the crowd of borrowers, the Minneapolis-St. Paul Metropolitan Airports Commission plans a $438 million deal next week, marking its first new money sale in four years.

Midwestern voters delivered mixed results on transportation proposals Tuesday while picking new governors and settling legislative races that stand to impact fiscal decisions in Illinois and Minnesota.

A bill introduced in the House would make municipal bonds issued by historically black colleges and universities tax-exempt at the federal, state and local levels.

The Internal Revenue Service’s proposed definition of a political subdivision could jeopardize the tax-exempt bonds of many public entities in Minnesota, the state’s congressional delegation recently told the agency and the Treasury Department.

Minnesota highway officials say road conditions will worsen without solution to growing revenue gap.

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.

Minnesota heads into the market Tuesday with its annual summer sale, bolstered by the restoration of one of its triple-A ratings.

Minnesota State Colleges and Universities took a one-notch downgrade from Moody’s Investors Service to Aa3 over the weakened state of its revenue fund, which backs $333 million of debt.

Minnesota-based HealthEast Care System lost its Fitch Ratings investment grade rating over its lack of progress in improving profitability.

Minnesota lawmakers won’t immediately be called back to work to tackle a capital budget and long-term transportation funding plan after failing to act on both fronts before their session drew to close at midnight, Gov. Market Dayton said Monday.

Both 10-year transportation funding plans proposed by Minnesota Gov. Mark Dayton include $2 billion of road bonds.

Minnesota Gov. Mark Dayton will propose a compromise transportation funding bill to resolve a legislative deadlock.

The Mayo Clinic is returning the market Tuesday with a $200 million refunding, a follow up to its $350 million taxable new-money issue in March.

State officials say a 45% road funding shortfall will cripple Minnesota’s highway expansion plans by 2018.

Minnesota Gov. Mark Dayton wants to spend $700 million of the state’s $900 million surplus on various initiatives and tax relief while leaving $200 million on the books should state revenues falter.

Financial and legal firms that do bond work for Chicago’s sister agencies would face greater diversity disclosure requirements under a bill introduced last month to the Illinois General Assembly.