Midwest

A proposed settlement between Monticello, Minn., and investors holding its defaulted $26.4 million of telecommunication revenue bonds is advancing with the filing of a new class action bondholder lawsuit that is considered part of the settlement process.

Holders of Detroit's general obligation bonds are among the biggest losers in the city's debt plan, and that's prompting some muni market participants to call for a fresh look at how GOs are viewed.

A.T. Still University of Health Sciences in Missouri received a first time rating of A3 from Moody's Investors Service.

Public pension plans should not be funded with instruments that bear risk or delay cash funding such as pension obligation bonds, a panel commissioned by the Society of Actuaries warned in a report released Monday

The Wisconsin Legislature's powerful Joint Finance Committee approved along party lines a $500 million tax cut package last week.

The judge overseeing Detroit's bankruptcy case released a schedule Monday that sets hearings through June to consider the city's effort to shed its debts and move out of Chapter 9.

Detroit is being cautious about its revenue projections — and its ability to enter the capital markets — over the next decade, according to documents filed in bankruptcy court.

The bond insurers that wrap a chunk of Detroit's unsecured debt blasted the city's debt adjustment plan filed in bankruptcy court Friday, joining a chorus of criticisms from the municipal bond market.

Detroit filed a proposed plan of adjustment that lays out how the city hopes the bankruptcy court will treat its $18 billion of debt, including major cuts to bondholders.

Detroit's pension funds can file a direct appeal of the federal bankruptcy court's decision that the city is eligible for Chapter 9, a process that will run parallel to the city's Chapter 9 case.