Minnesota

Minnesota launched its search for underwriters interested in working on state appropriation-backed bond issues for the Minnesota Vikings football stadium.

A judgment in a New Jersey civil lawsuit shouldn't impede the ability of the Minnesota Vikings' owners to finance their contribution to a football stadium, a public review found.

The Ramsey County, Minn., Board has approved placing a bid for the struggling Vadnais Heights sports complex financed with $27 million of now defaulted bonds.

Minnesota Vikings owner Zygi Wilf can cover his share of a new $975 million football stadium despite a hefty judgment civil lawsuit, according to a Minnesota Sports Facilities Authority-ordered examination.

The Minnesota Sports Facilities Authority last week hired Dorsey & Whitney and FTI Consulting to conduct a financial review of Minnesota Vikings owner Zygi Wilf and his real estate business after a New Jersey judge found a Wilf partnership guilty of fraud in a longstanding civil case.

Rising interest rates and lagging economic growth sidelined borrowers in the Midwest where issuance dipped by 12% to $34 billion during the first half of 2013 compared to the same time last year.

Minnesota Municipal Power plans to enter the market in the coming days with a $20 million sale of electric revenue bonds to help finance a bioEnergy project.

The five issuers can redeem a total of $128.44 million because sequestration-imposed cuts in the federal subsidy payments they receive triggered extraordinary redemption provisions.

Moody's Investors Service has revised its outlook on Fairview Health Services' A3 rating to stable from negative in recognition of its improved operations.

Moody's Investors Service revised its outlook on Forest Lake Independent School District 831's underlying Aa3 rating to negative as the district heads to market with a $3.4 million bond issue to buy an ice arena and field house.

Minnesota will take competitive bids Tuesday on $470 million of general obligation bonds to finance statewide capital projects as its appropriation-backed issue for the new Minnesota Vikings professional football stadium waits in the wings.

Minneapolis lost it its top credit rating from Moody's Investors Service due to the size of its pension burden and shift in how the rating agency assesses pension obligations.

Minnesota Gov. Mark Dayton announced his four picks for the board that will guide the state's $455 million public investment in the Mayo Clinic's proposed $6 billion makeover of its hometown Rochester.

The trustee for $27 million of defaulted lease revenue bonds backed by a Minnesota city to finance a sports complex wants to unload the facility but it doesn't expect to make bondholders whole through the sale.

Monticello, Minn., which defaulted on $26.4 million of unrated telecom revenue bonds, would pay bondholders $5.75 million and free up escrowed funds under a proposed settlement.

Longtime Minnesota state economist Tom Stinson is retiring and will hand the reins of the post to economics professor Laura Kalambokidis in July, the Minnesota Management and Budget Department announced Monday.

Moody's Investors Service downgraded a portion of Minnesota-based Northern Municipal Power Agency's debt one notch to A3.

Minnesota lawmakers wrapped up their work on a new two-year $38.3 budget late Monday approving a tax package that generates $2.1 billion in new revenue and provides aid for the Mayo Clinic's proposed makeover of its hometown.

Minnesota would tap a chunk of new revenue expected from a proposed cigarette tax increase and corporate tax changes if gambling revenues needed to repay state borrowing for a new Vikings stadium fall short.

More than two dozen local governments in Minnesota have seen their bond ratings cut over the last 16 months as they struggle with diminished property tax bases, limited revenue flexibility, and other fiscal strains.