Midwest

S&P Global Ratings said it revised its outlook to negative from stable and affirmed its A-plus long-term rating on Missouri Health & Educational Facilities Authority's series 2006, 2011, and 2015B bonds issued for St. Luke's Episcopal-Presbyterian Hospital (St. Luke's).

Illinois was downgraded to BBB from BBB-plus by Fitch Ratings, which left the rating on a negative rating watch.

Allen Park, Michigan took its final step toward financial independence on Tuesday, regaining full local control its operations and finances after nearly four years of state oversight.

Wayne County, Mich. said it expects a general fund operating budget surplus of $44 million, news the county hopes will bolster its fiscal position as it advances plans to complete its downtown jail project that will require $200 million of borrowing.

Fitch Ratings issued a report to criticize Moody’s Investors Services’ recent assessment of Chicago Public Schools.

Underwriters interested in working on nearly $1 billion of planned borrowing by the Illinois State Toll Highway Authority over the next three years have until Friday to apply.

Chicago’s widening spread penalties may not ease until the state cleans up its budget mess and Chicago Public Schools shores up its rocky finances, because investors are wary of overlapping credit cluster risk.

The bonds of 16 affordable housing properties affiliated with Global Ministries Fellowship were downgraded by S&P Global Ratings, sending 14 more of the credits to junk.

Ohio Gov. John Kasich is looking to reduce the state’s reliance on income tax revenue by raising the taxes on cigarettes, beer and wine, gas drilling and raising and expanding the sales tax.

Wayne County, Michigan is taking the next step toward reviving its bond-financed downtown Detroit jail project.