Minnesota

While it may have relied heavily on one-time revenues to end political gridlock and strike a budget agreement last year, Minnesota maintains strong financial policies and has a solid track record of making timely budget adjustments as needed, Standard & Poor's said in a special report.

St. Louis-based Ascension Health Alliance is advancing plans to acquire Oklahoma-based Marian Health System, the parent of three regional not-for-profit healthcare organizations in the mid and central states.

The merger of HealthPartners Inc. with Park Nicollet Health Services won't have an immediate impact on the ratings of either system, Standard & Poor's said in a report.

The fate of Minnesota's proposed tobacco refunding is in the hands of the state's high court which is being asked to decide whether the use of an appropriation pledge constitutes a "public debt" that is subject to state limits on the uses of such debt.

Minnesota will draw from reserves and bond proceeds to help fund a $167.5 million relief package approved by lawmakers Friday for areas hard hit by June storms and flooding.

Lured by attractive Treasury rates and the absence of tax-exempt compliance, the Mayo Clinic is accelerating its new-money borrowing plans and opting to go with taxable paper in a $300 million issue pricing as soon as this week.

The Minnesota Legislature is tentatively planning to meet for a special session on Aug. 24 to approve aid for the flood-ravaged Duluth area.

Minnesota's HealthEast Care System won back its investment grade rating last week from Standard & Poor's in recognition of its improving balance sheet.

Minnesota takes competitive bids Tuesday on $658 million of high-grade general obligation bonds in its annual sale to fund capital projects.

Minnesota enters the market next week with a small, but rare, revenue issue for refunding savings and plans to return on Aug. 8 with $658 million of new-money general obligation bonds. Both are competitive issues.

The St. Paul, Minn. City Council advanced plans to provide a $17 million subsidy for a new St. Paul Saints ballpark.

Minnesota closed out fiscal 2012 on June 30 with $336 million more in revenue than predicted when the annual February forecast was released.

Minneapolis-based Northland Securities Inc. has hired veteran municipal professional James Kubik to help lead its expansion in the central states region.

Moody's Investors Service downgraded Hennepin County, Minn.'s first lien sales tax revenue bond credit to Aa1 from Aaa in connection with the agency's new rating methodology for debt backed by special tax revenues.

Moody's Investors Service has lowered the Duluth, Minn., Independent School District No. 709's underlying general obligation rating to Baa1 from A1 ahead of its upcoming new-money debt issuance. The agency also assigned a negative outlook to the credit.

The new Minnesota Sports Facilities Authority, which will own and operate the new partially bond-financed Vikings stadium, held its first meeting on Friday and picked Ted Mondale as its chief executive officer.

Fairview Health Services got hit with a downgrade from Moody’s Investors Service and a warning of further negative action due to fiscal 2011 operating losses and potential fallout from the state attorney general’s probe into its bill collection practices.

The public agency that operates the Edward Jones Dome last week shot down the St. Louis Rams’ counterproposal for renovations to its stadium.

Fitch Ratings has upgraded Olmsted Medical Center’s rating one notch to BBB-plus from BBB in recognition of the Minnesota hospital’s strong financial performance.

CHICAGO — The Metropolitan Council of the Twin Cities of Minnesota enters the market this week and returns later in the month with more than $400 million of new-money and refunding general obligation bonds that offer investors top-rated tax-exempt and taxable paper.