Ohio

CHICAGO — Ohio Gov. John Kasich’s proposed two-year spending plan would gut the budget of one of the state’s oldest bond issuers but leave its bond-issuing authority intact.

CHICAGO — Ohio senators Wednesday unanimously passed a $7 billion, two-year transportation budget that allows the state to impose tolls to finance projects and enter into public-private partnerships to build and maintain new infrastructure.

CHICAGO — Dayton, Ohio-based MedAmerica Health Systems will begin taking retail orders Wednesday on $100 million of fixed-rate bonds followed by institutional sales Thursday.

CHICAGO — Ohio Gov. John Kasich Tuesday unveiled a highly anticipated two-year budget that tackles an $8 billion shortfall and avoids raising taxes by cutting spending, selling state assets, and pushing off near-term debt payments.

Fitch Ratings has downgraded $3.3 million of unlimited-tax general obligation bonds issued by Claymont City School District to A-plus from AA-minus and revised the outlook to negative from stable.

Cleveland Clinic chief executive officer and president Toby Cosgrove predicted the federal health care law would cost the prestigious facility $174 million in annual revenue beginning in 2015.

CHICAGO — Former Ohio Treasurer Kevin Boyce has joined Rice Financial Products Co. to staff the firm's Columbus office.

CHICAGO — Double-A rated Ohio Wednesday will price two series of bonds totaling $58 million to finance cultural, sports, parks, and recreation projects across the state.

CHICAGO — New Ohio Treasurer Josh Mandel has tapped a former Squire, Sanders & Dempsey LLP public finance attorney to oversee the office’s debt issuance.

CHICAGO — Three weeks after the Federal Trade Commission sued Promedica Health System, arguing it violated antitrust rules, the Ohio-based hospital chain is keeping a $249 million new-money deal on hold.

CHICAGO — Toledo, Ohio-based Promedica Health System will begin pricing $270 million of refunding and new-money revenue bonds Thursday.

CHICAGO — The U.S. Federal Trade Commission last week filed a pair of complaints against Promedica Health System Inc., a leading health care system in northwest Ohio, charging that its acquisition of a rival hospital is anticompetitive and would allow the Toledo-based system to unfairly raise prices for services.

CHICAGO — The Ohio Supreme Court ruled unanimously Wednesday that lawmakers did not violate the state constitution when they diverted $258 million of tobacco settlement funds to help balance the fiscal 2009-10 budget.

Moody's Investors Service cut its rating on the fiscally troubled city of Mansfield by two notches to A3 from A1 and placed the credit on review for a further downgrade. The move affects $12.7 million of general obligation debt.

Moody's Investors Service downgraded to A1 from Aa3 Canton's general obligation limited-tax debt.

The Columbus City Council last week approved $36 million of bonds to finance the renovation and expansion of a new police headquarters.

Cuyahoga County's first executive, who takes office in January as part of the county's shift to an executive-style government, said last week he hopes to launch a regional service-sharing agreement for the county's local governments.

CHICAGO — Ohio’s effort to ensure local governments issue as many recovery zone bonds as possible before the end of the year has prompted Columbus to enter the market Tuesday to use a fresh allocation of just under $60 million.

Republican Governor-elect John Kasich said last week that he would consider a plan to privatize the Ohio Turnpike.

Kent State University has postponed a $250 million capital program amid opposition from the Ohio Board of Regents.