Midwest

The bankruptcy of the private operator who runs the Indiana Toll Road is not expected to affect the triple-A rated state’s credit, Moody's Investors Service said Friday.

The per capita tab to cover local and state unfunded pension liabilities has grown to nearly $20,000 for a Chicago resident based on 2012 results, according to an annual report on Chicago area pension funds from the Civic Federation of Chicago.

Detroit emergency manager Kevyn Orr on Wednesday offered a glimpse into the city's high-stakes negotiations — and subsequent settlements — with bondholders during the course of its historic bankruptcy.

Detroit's attorneys called a $1.5 billion 2005 certificates of participation financing an "insider deal" that benefited banks and helped doom the struggling city during a federal hearing on the disputed debt issuance.

Milwaukee' cultural and entertainment venues need at least $445 million over the next two decades for capital improvements and to fund the public’s share of a new Milwaukee Bucks professional basketball arena, according to a task force report.

A post-bankrupt Detroit will not only be a "normal borrower" within a year, but will be stronger than many credits in the muni market, the city's investment banker testified in federal court Tuesday.

Using language Mayor Rahm Emanuel is unlikely to replicate in campaign brochures, Chicago's latest bond documents lay out for investors in stark terms the risks posed by its steep credit deterioration and hazards should it slip further.

Bond insurer Financial Guaranty Insurance Co., the last major holdout creditor in Detroit's bankruptcy, is reportedly nearing a settlement with the city that includes a mix of cash and city assets.

Residential property tax rates in Chicago have risen by more than 30% over the last decade, with other selected Cook County communities reviewed by the Civic Federation of Chicago experiencing increases of at least 55%.

The judge overseeing a retiree lawsuit challenging the city of Pontiac's effort to cut retiree health care benefits has ordered the parties into in mediation with one of the mediators of the Detroit bankruptcy case, while the city has hired Detroit's top restructuring firm to analyze its options for paying off the debt.