Midwest

Detroit's proposed $350 million debtor-in-possession financing would mark the largest such deal in Chapter 9 history, but not the first: that honor goes to Orange County, Calif.

The Missouri Secretary of State Securities Division filed a civil enforcement action against Morgan Keegan accusing the firm of securities fraud in its role as underwriter of $39 million of defaulted bonds issued by Moberly, Mo.

CHICAGO — U.S. Bankruptcy Court Judge Steven Rhodes will issue his decision over Detroit's eligibility to file for Chapter 9 bankruptcy on Dec. 3.

Moody's Investors Service has stripped Central College in Iowa of its underlying investment grade rating over its stressed operations.

Moody's Investors Service revised its outlook on the Chicago Symphony Orchestra's A3 rating to stable from negative in recognition of its improving.

The public body overseeing construction of a new Minnesota Vikings professional football stadium approved an agreement with the team and developer that caps the construction costs at $763 million.

An Indiana legislative panel Thursday approved a transit proposal for central Indiana that would rely on new local taxes for financing.

A municipal restructuring executive who played a key role in DC's oversight board in the 1990s is Detroit's new CFO.

Two Illinois health systems – Cadence Health and Rockford Health System – announced their plans this week to merge, the latest in a long list of healthcare unions in the state in recent years.

Chicago-based law firm Shefsky & Froelich and Ohio-based Taft Stettinius & Hollister LLP have agreed to join forces.