Midwest

A sales tax hike in Missouri to bolster transportation funding is headed to the November ballot.

An Illinois state court judge on Wednesday agreed to temporarily halt the June 1 effective date of state pension overhaul legislation passed last December.

Detroit emergency manager Kevyn Orr testified before a special House committee Tuesday that is considering a $195 million state contribution to the city's pension funds that Orr said is essential to the city's recovery.

The Missouri Highways and Transportation Commission hits the market next week with a $900 million refunding as it awaits legislative word on whether a sales tax hike to ease its funding crunch will go to voters this fall.

The "Detroit Three" automakers are reportedly considering giving up to $25 million or more in a plan that would raise money for the bankrupt city's pensioners while protecting the city's prized art collection.

Investors that hold roughly $5.3 billion of Detroit revenue bonds as well as $1.4 billion of its pension certificate debt filed objections to the city's plan of debt adjustment, laying out the arguments they will present at a bankruptcy trial two months away.

Michigan lawmakers will spend three days this week debating an 11-bill legislation package outlining the state's role in Detroit's bankruptcy, with emergency manager Kevyn Orr testifying on Tuesday.

Detroit's effort to repay its limited-tax general obligation bondholders only about 10 cents on the dollar would send shock waves through the muni industry and stifle economic growth, SIFMA argued in a court brief filed Monday.

Moody's Investors Service has revised its outlook on Iowa-based St. Anthony Regional Hospital's Baa2 rating to negative.

Standard & Poor's dropped Centegra Health System in Illinois' rating by one level to BBB ahead of its nearly $200 million sale of debt through a public offering and direct bank placements.