Midwest

The federal judge overseeing Detroit's bankruptcy will rule on the city's debt plan Friday, in one of the most closely watched cases in the muni market.

The Securities and Exchange Commission has charged Allen Park, Mich., and two former city leaders with fraud in connection with a municipal bond offering to support a movie studio project within the city.

Chicago Treasurer Stephanie Neely will join Allstate as a vice president, treasury, responsible for the firm's strategic direction and management of liquidity, capital, ratings and corporate structure issues.

Newly elected Wayne County, Michigan Executive Warren Evans said he believes the long-struggling county, home to Detroit, will be able to avoid a state-appointed emergency manager.

Illinois governor-elect Bruce Rauner will take the helm of a state struggling with battered credit ratings, massive unfunded pension obligations, and an unbalanced budget.

Three days before a judge rules on Detroit's bankruptcy exit strategy, the city posted a proposed order that defends the plan as conforming to all key federal benchmarks, highlighting its legal justification for favoring pensioners over bondholders.

Springfield, Ill.-based Hospital Sisters Services Inc. will refund $180 million of bonds Wednesday shedding some of its floating rate exposure.

Passage of a long-stalled transportation infrastructure package that would raise $1.2 billion in new revenue will be Michigan Gov. Rick Snyder's top priority during the upcoming lame-duck legislation session, the state's budget director said.

Monticello, Minn., will borrow $6.5 million to fund a settlement with holders of $26.4 million of defaulted telecommunication revenue bonds as the city seeks to turn the page from a failed deal that prompted investor accusations of fraud.

Voters in Cleveland, Ohio Tuesday will weigh in on a $200 million bond issue that would replenish a 13-year old capital plan for one of the state's largest school districts.