Wisconsin

Minnesota lawmakers were poised Thursday to vote on a plan to tap $434 million of the state's $1.2 billion budget surplus for tax relief and to set aside another $150 million to bolster budget reserves.

Wisconsin received the AAA rating from Kroll Bond Rating Agency on its transportation revenue bond credit ahead of a nearly $400 million sale slated for Thursday. The other agencies rate the bonds in the mid- to high double-A category.

Wisconsin plans to come to market as soon as March 20 with nearly $400 million of new money and refunding transportation revenue bonds.

Wisconsin will sell up to $295 million of general obligation refunding bonds as soon as Wednesday.

Midwestern volume dwindled by 18.1 % in 2013 to $59.1 billion from nearly $72.2 billion a year earlier as rising interest rates sapped refunding opportunities and lackluster new-money issuance did little to offset the drop.

The Wisconsin Legislature's powerful Joint Finance Committee approved along party lines a $500 million tax cut package last week.

Wisconsin has decided to expand its use of Kroll Bond Ratings Agency from its general obligation credit to include its master lease certificates of participation ahead of a $37 million sale set for Wednesday.

Seeking to lock in savings offered in the current market, Wisconsin took a step into new terrain last month by entering into a loan agreement with JPMorgan that will refund $278 million of debt next year.

Wisconsin will take bids on $237 million of general obligation bonds Tuesday against a backdrop of improving state revenues Gov. Scott Walker wants to return most to taxpayers.

Wisconsin Gov. Scott Walker plans to outline tax cut proposals in his state of the state proposal he said are affordable due to new revenue estimates that project a more than $900 million surplus in the current budget

Moody's Investors Service downgraded Green Bay, Wis.'s general obligation rating one notch to Aa2 as it prepares to sell $25 million of taxable lease revenue bonds to finance convention center improvements.

The Wisconsin Center District Board has decided to undertake a study on whether it makes financial sense to expand Milwaukee's downtown convention center.

More than a dozen additional Wisconsin issuers have recently disclosed that they can redeem their Build America Bonds and other direct-pay bonds because of sequestration-mandated cuts in their federal subsidy payments.

Wisconsin Gov. Scott Walker signed into law a $100 million property cut that won swift passage with little debate.

Wisconsin is asking financial advisory firms interested in helping the state evaluate its assets for possible sale or lease to submit their qualifications by Nov. 1.

Milwaukee plans to take competitive bids Wednesday on $130 million of school cash flow notes but can delay the deal if too steep a penalty is demanded amid uncertainty driven by Congress.

Wisconsin got a rating from Kroll as it prepares a roughly $560 million general obligation refunding.

Wisconsin-based Meriter Hospital's steep losses at its affiliated for-profit health plan prompted Moody's Investors Service to downgrade its rating by one notch to A2 and the agency warned of further deterioration by assigning a negative outlook.

Rising interest rates and lagging economic growth sidelined borrowers in the Midwest where issuance dipped by 12% to $34 billion during the first half of 2013 compared to the same time last year.

Milwaukee County plans to sell $51 million of new money and refunding general airport revenue bonds for General Mitchell International Airport, but received a downgrade and worsened rating outlook.