Missouri

Fitch Ratings on Monday affirmed the Southeast Missouri Hospital ­Association’s BBB-plus rating while revising its outlook to positive due to the hospital’s improved liquidity position.

Fitch Ratings affirmed the Nelson Gallery Foundation’s AA rating but revised its outlook to stable from positive ahead of a $35 million refunding.

CHICAGO — The Missouri Highways and Transportation Commission enters the market this week with $185 million of Garvee bonds to complete the financing of its Safe and Sound bridge program and to fund its share of a new span across the Mississippi River.

CHICAGO — The potential sale of the smaller of two hotels that make up the bondholder-owned St. Louis convention center complex is advancing with the field of possible buyers now narrowed down to two.

CHICAGO — The Missouri Environmental Improvement and Energy Resources Authority will enter the market this week with $220 million of advance-refunding state revolving fund bonds as federal stimulus funds have at least temporarily put off the need for new-money borrowing.

CHICAGO — Missouri Gov. Jay Nixon this week unveiled a $23.9 billion all-funds fiscal 2011 budget that banks on an economic rebound, federal funds, and cutting spending and jobs to keep the state in the black.

CHICAGO — The Metropolitan Sewer District of St. Louis will sell $85 million of revenue bonds today, tapping the Build America Bond program to raise funds for its long-term $6 billion capital improvement program.

The St. Louis County Council earlier this week approved putting a half-cent sales tax increase for the Metro transit agency on the April ballot.

Missouri's top credit benefits from its economic diversity, good financial management, strong reserves, and a low debt burden, according to a new report from Standard & Poor's.

Moody's Investors Service downgraded Jackson County's implied general obligation rating one notch to Aa3 and warned of further action by assigning a negative outlook due to the county's fiscal challenges.

A handful of Midwestern state housing authorities, most of them shut out of the credit market this year, are acting to take advantage of the U.S. government's temporary new-issue bond program to jump-start their ability to provide new mortgages.

Fitch Ratings recently downgraded the Howard Bend Levee District's 2005 debt to BBB from A-minus.

The trustee on $98 million of St. Louis convention center hotel bonds will hold a bondholder call today to provide an update on the city’s advancement last week of legislation that could boost the hotel’s financial viability and provide some relief from an upcoming tax-related payment owed to the city.

Standard & Poor’s this week announced it had raised the ratings on 11 school districts in Missouri and Wisconsin following a review based on revised credit criteria for smaller districts.

CHICAGO — The St. Louis Art Museum today will price $20.4 million of fixed-rate cultural facilities revenue bonds and will follow up as early as next week with $25 million of variable-rate debt — a year after postponing the sale amid the market turmoil of late 2008.

Fitch Ratings last week stripped the Chesterfield Valley Transportation Development District’s 2006 sales tax bonds of their investment-grade rating as the issuer is expected to tap debt service reserves to fully cover its April payment.

CHICAGO — The St. Louis convention center hotel complex now owned by bondholders formally asked late last week to extend the deadline for a payment in lieu of taxes it owes the city at the end of the year to help stave off a shortfall in working capital expected this winter.

CHICAGO — Kansas City, Mo.-based Children’s Mercy Hospital enters the market beginning today with a retail order period on its $180.7 million of new-money and refunding revenue bonds that will introduce fixed-rate bonds to the well-known hospital’s debt portfolio.

Missouri Gov. Jay Nixon announced the state would cut 700 positions, Medicaid payments, and school transportation funds to trim $204 million from the $23.7 billion budget for fiscal 2010.

Midwestern voters head to the polls tomorrow to cast decisions on elected offices, new casinos, and more than 125 ballot questions that would authorize more than $3.3 billion worth of borrowing, led by Detroit Public Schools' $500 million request and $750 million for a new public hospital in Indiana.