Midwest

The CTA heads into the market with an amended budget and warnings about the coronavirus pandemic's impact on its budget without a new infusion of federal aid.

This week's $800 million deal is the first of $3.5 billion to be sold by the end of 2023 allowing Michigan to beef up its road and bridge infrastructure.

A preliminary settlement would resolve claims against Michigan by Flint residents over the city's 2014 lead-in-water contamination crisis.

Mayor Lori Lightfoot's administration isn't giving much hint as to how the city will pay for a plan to replace lead water service lines.

The mass transit agency, its finances reeling from the coronavirus, rejected bids from 10 different banks and sold $451 million of notes to the Municipal Liquidity Facility.

The coronavirus adds to the fiscal challenges facing the already junk-rated school district, which is the nation's third-largest.

The authority's issue will also provide new money to help finance renovations at the state's historic capitol building in Lansing.

Huntington says the Michigan team that came over from Hilltop has experience covering local school districts and governments as well as the state.

Under a court-approved consent decree, the impoverished south Chicago suburb will keep 90% of pledged tax revenues as it works on a debt restructuring.

Moody's Investors Service says the appellate court decision could impede the state government's flexibility in dealing with coronavirus-driven budget woes.