Midwest

The Chicago Public Schools dropped Moody’s Investors Service from the list of rating agencies asked to review its upcoming sale of about $550 million in new money and refunding general obligation paper.

Michigan senators approved a bill giving investors in Detroit’s income tax-backed bonds both a statutory lien and an intercept aimed at snagging at least one investment-grade rating on the city’s first post-bankruptcy bond deal set for the spring.

Chicago took a gamble by voluntarily laying out in stark terms the fiscal threats that could lead to further credit erosion and the impact on its swap and liquidity contracts, market participants said.

Michigan Gov. Rick Snyder appointed utility executive Nick Khouri as state treasurer to replace Kevin Clinton, who is leaving to return to the private insurance sector.

Silver Cross Hospital and Medical Center leads a pack of borrowers slated to come to market through the Illinois Finance Authority this spring.

The Greater Cleveland Regional Transit Authority is coming to market Tuesday with $51 million of transportation bonds backed by a countywide sales tax.

Chicago Mayor Rahm Emanuel's fiscal agenda for a second term gambles on elusive state action to avoid making city taxpayers cover a $550 million spike in public safety pension contributions next year.

Rep. Randy Hultgren said he has developed an appreciation for bonds as a result of his past experiences in both the public and private sectors.

Chicago mayoral challenger Jesus “Chuy” Garcia offered up ideas for freeing up city revenue in a financial plan that left unanswered questions over how he would tackle the city's staggering pension woes.

Tax revenue in the top oil producing states has fallen sharply, dropping by 40% in Texas, according to the U.S. Energy Information Administration.