Minnesota

Duluth-based St. Luke's affiliation with Aspirus Inc. has lifted the prospects for its speculative-grade bonds; S&P placed the hospital on CreditWatch positive.

Larger deals, fewer issues: those were the overarching municipal bond sale trends, along with a surge in tax-exempt deals, across the Midwest in 2023.

Robert Poole, a leading expert in the U.S. public-private partnership transportation sector, joins infrastructure reporter Caitlin Devitt to talk about upcoming deals including toll lanes and bridges in the Southeast and high speed rail in the West as well as states that are advancing P3s and action on the federal front. (37 minutes)

From bridge replacements in the Pacific Northwest and Midwest to prioritization of high-speed rail systems, here are 5 major projects to watch.

Wisconsin and Minnesota have jointly received a $1.05 billion grant from the U.S. Department of Transportation to replace the aging Blatnik Bridge.

The top five bond financings have an average dollar volume of more than $917 million.

State bonds are a key part of the two-state plan to replace the aging Blatnik Bridge, but officials are also seeking more than $1 billion in federal grants.

Moody's Investors Service revised its outlook to positive from stable and affirmed its Aa1 issuer and general obligation unlimited tax bond ratings on the city.

The Metropolitan Airports Commission will sell about $125 million of bonds to complete its share of financing for the largest interior renovation of 61-year-old Terminal 1.

Dustin Avey and Jeremy Garber were named co-heads of public finance; Fairman, a 40-year veteran of the firm, will remain in an advisory capacity into 2024.

Fitch joined S&P Global Ratings in assigning a gilt-edged rating to the city, ahead of a planned general obligation deal later this month.

J.P. Morgan held a one-day retail order for $1.65 billion of revenue bonds from the Dormitory Authority of the State of New York, while Minnesota sold $1.02 billion of GOs in the competitive market in five deals.

For the coming week, investors will be greeted with a larger new-issue calendar led by large New York and Texas ISD issuers, along with gilt-edged Minnesota selling competitively.

The early redemption plan saves the state $266 million in interest payments and allows pull-tab gambling revenue to flow to the general fund.

New or increased fees on electric vehicles are the second-most popular category among transportation state legislation so far this year, per ARTBA.

The $2.6 billion infrastructure budget stands out as the state's largest ever; bond packages stalled in the previous two years amid political divisions.

Illinois lawmakers' research arm projects more revenue in the current budget year but warns budget writers to proceed with caution in the next.

The state's flagship university said its proposal to acquire its healthcare facilities from Fairview, which is preparing to merge with an out-of-state healthcare system, requires state help.

Midwest borrowing last year went from 11% year-over-year growth in the first quarter to a 48% plunge in the fourth quarter.

Tim Walz's proposed budget offers a mix of additional spending, tax cuts, new bonds, and an early payoff of bonds issued for the NFL Vikings' stadium.