Minnesota

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.

Economic strains are denting Minnesota’s rosy revenue picture, giving state lawmakers less wiggle room on new spending, borrowing plans, and tax relief.

The Midwest lagged the national uptick in issuance last year as the conservative region did take advantage of low interest rates to refund debt but held tight the purse strings on new money borrowing.

Minnesota is offering $350 million of its high-grade state revolving paper in a competitive sale set for Tuesday.

The Minneapolis-St. Paul Metropolitan Airports Commission won an upgrade of its subordinate bond credit after a new review.

Minnesota’s coffers have surged to twice the previously projected balance, prompting a new round of debate over how to spend the extra funds with a focus on tax cuts, education, and transportation.

Moody's Investors Service dropped Minnesota-based Amherst H. Wilder Foundation's rating by two levels to A3 over its fiscal struggles that have led to endowment draws.

Voters across the Midwest elected new leaders, embraced the borrowing pleas of some school districts while nixing others, and rejected a controversial marijuana initiative in one state.

The Internal Revenue Service has determined that industrial development bonds issued by the city of Minneapolis in 2006 for a printing-facility project are taxable.

Faltering projects designed to boost the economy can expose municipalities to the perils of backing such ventures, Moody's Investors Service said in a commentary.

The Internal Revenue Service is auditing $91 million of Build America Bonds issued by the Minnesota Public Facilities Authority in fall 2010.