Missouri

Several Kansas City Missouri business owners behind a lawsuit challenging the legality of the funding mechanism for the city's proposed $102 million downtown streetcar filed an appeal of the district court's dismissal.

The trustee for $113 million of bonds issued for a privately owned and operated airport at Branson, Mo. are negotiating possible modifications to a forbearance agreement for the struggling airport.

Gov. Jay Nixon last week signed a $219 million supplement to the fiscal 2013 budget that provides funding for education and other services.

The Missouri Highways and Transportation Commission has named its chief engineer Dave Nichols to serve as director of the Missouri Department of Transportation.

Voters in St. Louis and St. Louis County last week passed Proposition P, a sales tax increase to help fund trail and park improvements and renovations to the Gateway Arch.

Missouri Secretary of State Jason Kander issued a cease-and-desist order against the former Morgan Keegan & Co. Inc. for alleged fraud in its role as underwriter on $39 million of defaulted revenue bonds issued by a Missouri city for a now abandoned artificial sweetener plant.

With its ratings intact, CoxHealth in Missouri next week enters the market with a mostly new-money sale for about $200 million to help finance a major expansion at its main healthcare campus.

Missouri Department of Transportation chief engineer Dave Nichols will take the reins of director on an interim basis replacing Kevin Keith who is taking a medical leave of absence.

Kansas City, Mo. officials hope to quickly resolve a lawsuit filed by several business owners challenging the legality of the funding mechanism for the city's proposed $102 million downtown streetcar project.

Peabody Energy Corp., which led efforts to develop the mostly bond-financed, joint power agency-owned Prairie State Energy Campus, has received a subpoena from the Securities and Exchange Commission on the coal-fired plant's development.

Fitch Ratings has revised its outlook to negative from stable on the A-minus rating held by Bethesda Health Group due to the balance sheet strains from low occupancy levels and flat revenue growth which heightens concerns over its aggressive debt profile.

Fitch Ratings has revised its outlook on Kansas City, Missouri's general obligation, lease, and special obligations ratings to stable from negative in recognition of its advances in pension funding and decision to scale back on an ambitious capital plan.

A bipartisan group of lawmakers announced legislation last week that would raise the state sales tax by one cent with the aim of raising $8 billion over the next decade for transportation projects.

Refunding opportunities fueled a 36.3% surge in bond issuance among Midwestern borrowers last year as the steadfastly conservative region shied away from adding new debt in favor of shoring up balance sheets.

The public agency that owns the Edward Jones Dome — home of the National Football League's St. Louis Rams — has tapped Goldman Sachs to advise it on stadium finance issues.

Fitch Ratings has placed Springfield, Mo,-based CoxHealth's A rating on Rating Watch Negative due to the system's impending new debt issuance.

An arbitration panel has picked the St. Louis Rams' estimated $750 million renovation of the Edward Jones Dome over the St. Louis Convention and Visitors Commission's more modest plan as the only option that meets a lease requirement to bring the stadium into top-notch condition.

Missouri Gov. Jay Nixon unveiled a proposed $25.9 billion budget for fiscal 2014 that bolsters education spending and provides a conditional endorsement of new borrowing if funds are carved out to repay it.

Standard & Poor's has revised its outlook on St. Louis-based St. Anthony's Medical Center's A-plus rating to negative from stable due to operating losses.

Missouri lawmakers pushing for a new state building bond program are banking on favorable interest rates, the state's solid triple-A rating, low debt levels, and the need for jobs to win support this year.