Midwest

Struggling under the weight of rising costs and construction delays, the Iowa Fertilizer Co. LLC’s nearly $1.2 billion of tax-exempt debt has fallen further into junk territory.

Illinois-based MercyRockford Health System is bringing a $495 million deal to lay the groundwork for both a new hospital and new identity as Mercy Health Corp.

The Illinois Regional Transportation Authority will take bids Tuesday on $150 million of working cash notes that help the agency manage cash flow amid ongoing state aid payment delays.

Chicago Mayor Rahm Emanuel nominated Erin Keane, the city’s first deputy comptroller, to replace Comptroller Dan Widawsky.

Locke Lord LLP has hired tax specialist Todd Cooper to bolster its 25-member national public finance practice.

An uptick in patient volume and the November acquisition of Allegiance Health helped boost Detroit-based Henry Ford Health System’s credit rating outlook.

Illinois’ cash-starved higher education institutions will soon get some relief after state lawmakers passed a $600 million funding bill to get them through the summer despite the lack of a state budget.

Missouri Senate passes a bill setting up a statewide gasoline tax referendum in November.

A Michigan House committee will take up the next round of discussions on the proposed Detroit Public Schools restructuring.

St. Louis-based Ascension Health Alliance is set to bring $1.9 billion of bonds to market in deals that fold into one package the system's new money needs, refunding opportunities and refinancing of inherited debt.