Midwest

Fitzgerald Public School District in Macomb County, Michigan lost its investment grade rating on its limited tax general obligation bonds and remains at risk of its unlimited tax GOs also falling to a speculative grade.

Illinois’ recent approval of some funding for higher education and student aid does little to calm concerns about the long-term impact of the funding drought on state university and community college balance sheets and reputations.

Debate began Tuesday in the Michigan House on a $715 million restructuring of Detroit Public Schools amid mounting growing pressure to act as the district’s fiscal crisis prompted a two-day district-wide “sickout.”

Despite what they say is low unemployment in their states, four governors who spoke on a panel at the Milken Institute Global conference said job creation is their main priority.

The Mayo Clinic is returning the market Tuesday with a $200 million refunding, a follow up to its $350 million taxable new-money issue in March.

A Will County, Illinois school district took a five-notch rating downgrade to the lowest investment grade as it turns to short-term borrowing to deal with fallout from the improper accounting of past bond proceeds.

Voters in Indiana and Michigan headed to the polls Tuesday will decide the fate of more than $1 billion in school district borrowing requests.

Some investors in Harvey, Illinois debt report being stiffed on a bond payment, though the city has not made any disclosures through the EMMA system.

Williston, North Dakota’s sales tax debt took a six-notch downgrade to junk amid continued oil and price declines.

The Michigan House signed off on a $54 billion fiscal 2017 budget that provides more money to deal with Flint’s water contamination crisis and record spending for kindergarten through 12th grade education.