Midwest

Chicago heads into 2016 budget season in need of $754 million to cover an operating deficit and higher pension contributions, according to figures released by Chicago Mayor Rahm Emanuel.

The Metropolitan St. Louis Sewer District's public rate commission is backing the district's proposed rate hike plan and $900 million bond issue.

Moody's Investors Service stripped Kankakee County, Ill., of its investment grade rating over its fiscal struggles and warned it might not stop at the Ba3 level.

A Cook County Circuit Court judge denied Chicago’s request to keep its court-voided pension reforms in place pending an appeal.

Moody’s Investors Service upgrade Dayton, Ohio-based Kettering Health, saying the eight-hospital system has seen a strong financial performance in the last two years.

Moody’s upgraded Detroit by one notch Thursday, though leaving it deep in junk territory, as the city gears up for its first post-bankruptcy bond deal.

Cincinnati’s settlement with its unions and retirees on retirement obligations is one of the reasons why Moody’s said it revised its outlook on the city to stable from negative.

The Chicago Transit Authority enters the market next week with a $176 million issue to refund some of its federal grant-backed debt for savings.

Michigan Gov. Rick Snyder Thursday affirmed his earlier declaration that Wayne County is in a financial emergency, giving the county board until next week to choose among four partial takeover options.

Chicago Mayor Rahm Emanuel submitted bonding ordinances to authorize up to $2 billion of O’Hare airport borrowing as well as $675 million of general obligation and wastewater debt.