Midwest

Michigan Gov. Gretchen Whitmer, a Democrat, called the budgets approved by GOP lawmakers on Tuesday "a mess."

Reports from S&P Global Ratings and Moody's Investors Service highlight fiscal strains Chicago, Illinois and some local governments face.

Mayor Karen Freeman-Wilson said the city is forging ahead with the transaction to raise money to help pay its bills.

Associate Director, S&P Global Ratings

More than 300 market participants, including 100 investors, attended the city's annual conference Friday to hear from Mayor Lori Lightfoot.

Moody’s Investors Service citied continued operational and performance improvements for the upgrade to Baa1.

The latest garnishment request comes as a task force on downstate and suburban public safety fund consolidation nears recommendations.

Michigan is more vulnerable because of its higher exposure to the auto manufacturer relative to other U.S. states, said Moody's Investors Service.

Fitch Ratings lowered the city’s issuer default rating to AA-minus from AA.

If the bonds are approved in March, the junk-rated city plans to issue $250 million of new money, unlimited tax general obligation bonds in 2020.