Midwest

A local government watchdog raised questions because the repayment schedule for a planned $1.3 billion securitization extends beyond debt being refunded.

Munis will see the last weekly issuance roll in - as the past few days hasn’t gone as planned, with rising yields and rocky market conditions causing the biggest deal of the week to postpone the deal.

Detroit will issue $112 million of new money GO bonds and is also considering issuing refunding bonds in December.

S&P Global Ratings cut Build Illinois bonds after changing its criteria; the downgrade mirrors a Fitch Ratings action in May.

Adverse market conditions delayed the $1.3 billion deal from Chicago’s Sales Tax Securitization Corp.

The deal’s underwriter cited "market conditions," confirming Chicago’s deal was placed on day-to-day status.

The busiest day of the week, and a good test for the market, lies ahead.

In addition to the local bond measures, voters will also decide seven governor's races and a Missouri fuel tax.

The backloaded maturity schedule of the debt brings comparisons to the city's supposedly abandoned "scoop-and-toss" practices.

Nineteen deals on the schedule are $100 million or larger, including the $1.3 billion Chicago securitization transaction.