Midwest

Work is set to begin this summer on a controversial $3.3 billion bridge spanning the Detroit River despite a lack of commitment of expected funds in President Barack Obama's budget.

Market observers say no Detroit scenarios are on the Northeast municipal finance horizon and some situations have improved, notably in Pennsylvania and Rhode Island

U.S. Bankruptcy Judge Steven Rhodes pushed back by one month a trial date on the city's plan of debt adjustment after bond insurers and other creditors asked for more time to respond to the controversial plan.

Detroit in a court filing Thursday said it has reached agreement with Barclays Inc. for a $120 million debtor-in-possession financing.

Missouri-based BJC Health System sold $200 million of debt to finance various projects including an expansion of its cancer center in St. Louis County in partnership with Washington University School of Medicine.

Detroit Wednesday asked the bankruptcy court to set a March 20 date for a hearing on its latest settlement with its interest-rate swap counterparties, calling it key to the city's overall plan of debt adjustment.

Moody's Investors Service's decision to drop Chicago out of the A rating category over its pension woes strikes at both its credit and reputation, market participants said Wednesday

Moody's Investors Service delivered a sharp blow to Chicago's general obligation and sales tax rating Tuesday, dropping them down to Baa1 over the city's mounting unfunded pension woes that threaten its "fiscal solvency."

Kansas City, Mo. will borrow $124 million next week to raise financing needed for its long planned $114 million downtown street car project and restructure debt to give it budgetary breathing room to strengthen its pension funds.

Detroit has reached a new settlement with its interest-rate swap counterparties that could significantly boost its efforts to pursue a cramdown plan of adjustment if necessary.