Midwest

Michigan needs to increase funding to adequately meet the state’s education needs, a new research report warns.

A $70 million injection of private capital from local philanthropists will boost Kalamazoo, Michigan, said Moody’s Investors Service.

The Great Lakes Water Authority is preparing its first bond issues since launching on Jan. 1, when it assumed Detroit’s $5.5 billion water and sewer debt portfolio and took charge of regional water management.

Chicago Public Schools unveiled a $5.4 billion budget that district officials call “balanced” though it relies on concessions the teachers’ union hasn’t accepted and the state making good on pledged pension help.

Bonds issued for a P3 highway project in Indiana were downgraded to junk following construction delays and payment disputes among contractors.

Chicago’s proposal to rescue its municipal pension fund from looming insolvency with a new water/sewer tax is a positive step that if finalized could stabilize the city’s rating, S&P Global Ratings said.

Governors State University lost its investment grade rating in the latest credit fallout to hit Illinois higher education institutions from the state’s budget mess.

At its recent investors’ conference, Chicago impressed analysts with a new plan to rescue the largest of the city’s four pension funds, but several attendees said the smooth presentations didn’t erase their worries about the city’s pensions and its budget.

Fitch Ratings lowered the issuer default ratings on four Ohio school districts after a review under new criteria.

Detroit Public Schools' $212 million of state aid-backed bonds received a downgrade to junk from S&P Global Ratings.