Midwest

The public agency overseeing construction of a new Minnesota Vikings stadium approved a $49 million increase in the project's budget due to rising construction costs.

Detroit will refinance a chunk of its water and sewer debt as part of a tender offer settlement with bondholders.

Michigan deputy treasurer Wayne Workman, who joined the state last year after a long stint as its financial advisor at Robert W. Baird & Co., has been appointed interim director of the state housing authority.

A federal judge upheld a bankruptcy court judgment against Bruce Cole, former head of Mamtek US Inc., finding he fraudulently obtained bond funds to finance a sucralose production plant in Moberly, Missouri.

Fitch Ratings shifted its outlook on O'Hare International Airport to stable from negative citing steady air traffic trends and more certainty over American Airlines' future at the airport after the airline's exit from bankruptcy.

Suburban Cook County, Illinois' public safety pension funds are straining under a collective $3.3 billion of unfunded liabilities, according to a recent report.

Fitch Ratings said Detroit's offer to holders of $5.2 billion of water and sewer bonds to tender their debt as part of a bankruptcy settlement does not constitute a distressed debt exchange, an analysis that could bode well for ratings the planned refinancing of the debt.

A web site that allows interested parties to watch Detroit water and sewer muni bond tenders in near-real time is being used for the first time in the municipal bond market.

Detroit has asked the federal judge in charge of its Chapter 9 to consider forcing bond insurer Syncora Guarantee to issue an apology for suggesting that federal mediators have tainted the bankruptcy process.

Detroit Public Schools will move forward with a plan to issue $111 million of state aid notes as well as an updated deficit elimination plan that calls for 10% pay cuts and the closure of up to 24 schools.