Midwest

Michigan Gov. Rick Snyder knew a $195 million contribution to Detroit's bankruptcy could concern analysts, but believes it is important, a spokesperson said after Standard & Poor's revised its outlook.

Two Chicago-based health systems — Alexian Brothers Health System and Adventist Midwest Health — intend to join forces to create a joint operating company with a combined nine hospitals.

S&P revises Michigan's outlook down to stable from positive, citing soft revenues as well as its recent contribution to Detroit's bankruptcy.

The Chicago Infrastructure Trust has begun negotiations with private partners, advancing plans to finance energy upgrades to as many as 141 city pools, and is eyeing a Property Assessed Clean Energy program.

Structural protections and a yield-hungry market are apt to boost interest in bonds for the Detroit Public Lighting Authority, despite the city's ongoing Chapter 9 bankruptcy.

Fitch Ratings said Monday it has withdrawn its D ratings on most of Detroit's debt, saying there's no reason to maintain a rating on defaulted bonds.

Moody's Investors Service has revised its outlook to positive from stable on Avera Health, one of South Dakota's largest health care providers, as the system comes to market this week with $59 million of bonds.

Two bond insurers that wrap Detroit water and sewer bonds have told bondholders to reject Detroit's bankruptcy plan of confirmation, even as the insurers fight for the exclusive right to vote on the plan.

In a major development, Detroit bankruptcy mediators announced a settlement on the treatment of the city's limited tax general obligation bonds. Terms were not immediately disclosed.

Scant supply and a double-A level rating should help offset investor penalties imposed on the Chicago name when the Chicago Transit Authority sells $555 million of sales tax bonds Wednesday, several market participants said