Midwest

The Chicago City Council approved up to $1 billion of new money and refunding water revenue and wastewater revenue bonding.

Moody's Investors Service lowered Des Moines, Iowa's rating by one notch to Aa2 due to its narrow operating reserves, below average income, and elevated debt burden.

Michigan Treasurer Kevin Clinton is concerned about Wayne County's ability to implement a deficit elimination plan, setting up a possible state takeover of the junk-rated county that is home of Detroit.

The banks that hold $1.4 billion of Detroit pension certificates have appealed the bankruptcy court's recent approval of a settlement with the counterparties that hold interest-rate swaps hedging the certificates.

Chicago is prepping up to $1 billion of borrowing under its wastewater and water credits that have escaped the battering seen by its general obligation rating over its pension strains.

Illinois Gov. Pat Quinn raised the idea of sharing more state income tax revenue with local governments to help them stabilize their local pension systems without hitting homeowners too hard on their property tax bills.

Gary, Ind. is set to enter the market this week with its first bond sale in nearly a decade, and at the same time is advancing a plan for a second borrowing.

A Michigan board Monday approved two emergency loans to help cover payroll for a pair of distressed local school districts.

With two new settlements in hand, Detroit's attorneys at a hearing Monday touted the city's recent progress, with the judge calling the series of deals unprecedented in Chapter 9 history.

Settlements are coming quickly now in the Detroit bankruptcy case, as the city Monday announced a deal with a coalition of unions over collective bargaining agreements.