Midwest

Six firms have responded to Indiana's request for qualifications to partner with the state for the $1.3 billion Illiana Corridor toll road connecting Indiana and Illinois, officials said Tuesday.

Judge Steven Rhodes will rule Thursday afternoon on Detroit's interest-rate swap settlement in one of the most closely watched decisions of the city's historic bankruptcy case so far.

Cook County, Ill. is coming to market Thursday with $130 million of refunding bonds, marking the largest general obligation bond offering from an Illinois issuer so far this year.

After a six-month delay to allow the market to digest Detroit's bankruptcy, Saginaw County, Mich. is bringing $52 million of pension obligation bonds to market Thursday.

Lombard, Ill. faces the possible loss of its investment grade ratings for failing to honor its appropriation commitments and triggering payment default on hotel conference center bonds.

Illinois released new pools of underwriting, financial advisory, and legal firms for bond sales over the next two years with the most notable change being the state's selection of a new sole bond and disclosure counsel.

Steven Rhodes, judge in the Detroit bankruptcy case, will rule Thursday afternoon on whether to accept or reject the city's controversial settlement with its interest-rate swap counterparties.

Illinois finance officials plan to hit the road later this month to meet with investors and rating analysts ahead of a $1 billion general obligation sale set for early next month.

Mediators in Detroit's bankruptcy case unveiled a tentative plan created by a group of local and national foundations that have already raised $330M that could be used for some of the bankrupt city's unfunded pensions – as long as the city promises to preserve its storied art collection.

Minnesota delayed $468 million of state general fund appropriation bonds for a new Minnesota Vikings football stadium due to the 11th hour filing of litigation that challenges the financing arrangement.