Midwest

Michigan Gov. Rick Snyder said he will sign a $1.2 billion road funding package that cleared the legislature late Tuesday after months of fits and starts during ongoing negotiations.

Chicago’s passage of a record tax hike to help stabilize its public safety pension funds has fueled further tightening of the city’s general obligation trading levels in recent days, Municipal Market Analytics says.

Chicago squares off in the Illinois Supreme Court Nov. 17 with unions and pension fund members challenging the overhaul of its municipal and laborers' pension funds.

The Indiana Finance Authority's chief financial and chief operating officer, Dan Huge, will take the helm of the agency that serves as the state's borrowing arm.

Moody's Investors Service is taking a positive view of Springfield, Ill's water, light and power utility's $500 million debt restructuring as a stabilizing influence on its credit profile

The Illinois Teachers' Retirement System's total unfunded pension obligations worsened slightly in the last fiscal year, to $62.7 billion from $61.5 billion.

Fitch Ratings and Kroll Bond Rating Agency see the Chicago City Council’s passage of a record property tax as a good step toward stabilizing the city’s finances, though they say plenty of concerns remain.

The nation's largest not-for-profit healthcare system — Ascension Health — will acquire the much smaller and lower-rated Wheaton Franciscan Healthcare's southeastern Wisconsin facilities.

While Illinois’ falling ratings doesn’t post much default risk, investors should tread cautiously with the credit due to headline risks that could cut the value of their holdings, that’s the assessment offered from one buyside participant.

Investment banking firm Rice Financial Products Co. has hired seven people to bolster its sales and trading operations and expand its footprint in California, Illinois, Texas and New York.