Midwest

A Michigan board Wednesday voted to approve two emergency loans to cash-strapped Detroit suburbs, which are under state control, that will be used for pension payments.

Illinois-based Presence Health has finalized a deal to sell one of its Chicago hospitals that has strained the system's books with losses.

Three more Midwestern issuers have said that they can redeem Build America Bonds issued in 2010 because their subsidy payments from the federal government have been reduced due to sequestration.

After years of struggling to fill its halls, a student housing facility privately developed for Chicago's DePaul University is marking its second year of near full occupancy with the boost in revenues allowing it to chip away at some overdue debt service.

Detroit officials could announce the future of emergency manager Kevyn Orr's role in the bankrupt city after his term ends Sept. 27. Some city council members reportedly favor a limited role to oversee the final weeks of the bankruptcy.

Bond insurer Financial Guaranty Insurance Co., standing alone as the last major creditor holding out in the Detroit bankruptcy, challenged the city's recent settlement with fellow insurer Syncora Guarantee Inc.

Indiana officials assured Hoosiers that the bankruptcy of the private operator of the Indiana Toll Road would not hurt the state, but one analyst warned that "aggressive" toll rates in the original lease could spell long-term problems.

Moody's Investors Service has affirmed Chicago's Field Museum of Natural History's A2 rating as the museum seeks to improve its balance sheet through an ongoing restructuring and plans to expand its capital campaign.

The Detroit City Council Friday approved a new regional water authority to take over the bulk of the Detroit Water and Sewer Department and also gave the green light to the city's bankruptcy settlement with bond insurer Syncora Guarantee Inc.

Pension reform enacted in 2013 has helped Ohio offset some of the stress tied to falling pension funding ratios, according to Moody's Investors Service.