Midwest

A proposed $3 billion rapid passenger rail system in the Midwest would cut the five-hour train trip between Chicago to Detroit by almost two hours.

The operator of the Indiana Toll Road won federal court approval for a bankruptcy plan that will either sell its 75-year lease of the highway or restructure the company with $2.75 billion of new debt.

Wisconsin and its local governments face relatively low levels of fiscal pressure with a stable outlook due to distinct traits that aid in the maintenance of their health, Moody's Investors Service writes in a special report published Tuesday.

The Illinois State Toll Highway Authority will returns to the market Thursday to borrow $400 million of new-money, toll-backed debt to kick off record infrastructure spending planned in the coming year.

Prairie State Generating Co. has named Donald Gaston its new president and chief executive officer after a nationwide search.

Wisconsin's Mercy Health System and Illinois' Rockford Health System plan to join forces as soon as December pending regulatory approval.

Michigan should enact protection of general obligation bonds to help the state's local governments in the wake of Detroit's treatment of its GOs as unsecured, says bankruptcy expert James Spiotto.

The trial to decide if Detroit's bankruptcy confirmation plan will be approved closed with attorneys for the city defending its debt-adjustment plan as fair to creditors and capable of setting the city on a path to revitalization.

On the closing day of Detroit's bankruptcy trial, municipal research firm Municipal Market Advisors warned that the city may have just set itself up for another Chapter 9.

Falling oil prices add fiscal pressure to five of the nation's top energy-producing states, according to Moody's Investors Service.