Midwest

Illinois received seven bids on its $402 million issue of high-grade, taxable revenue bonds Tuesday with JPMorgan winning the bonds with a true interest bid of 4.2706%.

Detroit's high-profile battle with its bondholders will likely have limited impact in the national market, as general obligation pledges vary widely across the country, Moody's Investors Service said in a new report.

Illinois paid at least $80 million more on general obligation bonds sold between 2005 and 2010 due to its poor reputation with investors, according to a new academic report.

Standard & Poor's raised its rating on the Iowa Board of Regents' parking system revenue bonds one level to AA-minus based on strong parking demand.

Wisconsin will sell up to $295 million of general obligation refunding bonds as soon as Wednesday.

RBC Capital Markets has hired Stratford Shields -- a longtime Morgan Stanley banker and a former head of its public finance business -- to lead its Midwestern municipal banking efforts.

Michigan Gov. Rick Snyder said Monday that the financial emergency in Benton Harbor is officially resolved and the city is leaving emergency management.

Ohio is selling $300 million of general obligation bonds and Gov. John Kasich is expected to unveil a new budget bill that features an income-tax cut on Tuesday

The city of Holland, in western Michigan, is gearing up for a $160 million bond sale to raise funds for a new natural gas power plant, its largest borrowing ever.

After wrapping a $402 million sales tax backed deal slated for Thursday, Illinois expects to return to the market over the spring with up to $1 billion of general obligation borrowing to fund its ongoing $31 billion capital program.