Midwest

An Australian company is set to pay $5.7 billion for the 75-year lease of the Indiana Toll Road from the bankrupt company that bought it for $3.8 billion in 2006.

The Missouri Supreme Court took control of Ferguson’s municipal court system Monday in a move that follows a stinging federal report that accused the officials there of abusive practices designed to generate revenue for the court and city coffers.

The Missouri Joint Municipal Electric Utility Commission is selling $158 million of power refunding bonds tied to the controversial Prairie State coal plant, which recently won a round of fresh praise from ratings analysts.

The Metropolitan St. Louis Sewer District would like to ask voters next year to support $919 million in new borrowing for wastewater projects and to revamp its stormwater fee structure.

The head of Wayne County, home to Detroit, has ordered a spending freeze across the government as the county tries to stabilize its credit deterioration and ward off a state takeover.

Chicago is almost $400 million underwater on 24 swaps tied to $2.4 billion of floating-rate general obligation and revenue-backed paper, the city reports in a new disclosure.

Members of a banking committee approved a Nebraska bill that would favor bondholders over pensioners in the event of a bankruptcy, sending the measure to the floor of the Legislature.

The Chicago school district fell to the last rung above junk bond status after a two-notch downgrade from Moody's Investors Service.

The roots of Joplin, Mo. School District’s current fiscal struggles lie in the district’s post-2011 tornado recovery, according to a new state audit that took the district to task for using the same firm as advisor and underwriter on its borrowings.

The recent default by an Indiana school district reveals how a state intercept enhancement program does not necessarily reduce the chance of default, Moody's says in a new comment.