Minnesota

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.

Moody's Investors Service has upgraded HealthPartners Inc.'s rating one level to A2 in recognition of its improved operating performance.

A tax overhaul in Minnesota -- with infrastructure funding for the Mayo Clinic's plan to makeover its home city and a likely income tax increase to erase a deficit and generate more funding for schools -- is headed to a conference committee.

Moody's Investors Service has downgraded the city of Hayfield's general obligation rating by three notches to the lowest investment grade level.

Moody's Investors Service issued a report on Wednesday that examined the local governments and school districts that rely on federal employment, procurement, Medicare reimbursement and education grants that would be most affected by sequestration.

Moody's Investors Service has placed the general obligation bond ratings of 29 local governments and school districts including Chicago, Cincinnati, and Minneapolis on review for possible downgrade due to its new methodology for analyzing public pension liabilities.

Fitch Ratings has upgraded Olmsted Medical Center's rating by one notch, pushing it into the A category in recognition of its strong financial profile and increasing liquidity.

Minneapolis-based Fairview Health Services and South Dakota-based Sanford Health have canceled discussions over a possible union due to mounting opposition in Minnesota.

Minnesota Gov. Mark Dayton unveiled a $750 million capital bonding package Monday that provides funds for infrastructure projects across the state.

Two Minnesota lawmakers plan to introduce legislation next week that would delay any state bond issuance for the new $975 million Minnesota Vikings professional football stadium until a stable revenue source is put in place that can support repayment.

Moody's Investors Service has revised its outlook to negative on St. Paul’s sewer revenue bond Aa1 credit over a weakening of its financial metrics.