Midwest

Insurance is making a big difference in trading prices on Detroit's general obligation debt as the city was poised Tuesday to officially default on its first GO full faith and credit pledge.

Chicago Mayor Rahm Emanuel's plan to privatize the Illinois International Port District in a deal aimed at revitalizing the long-troubled agency suffered a setback this week after the city and its lead bidder halted talks on a final lease deal.

The fiscal condition of Michigan local governments continues to improve from a nadir in 2010, but the pace of improvement slowed dramatically in fiscal 2013, according to a University of Michigan report.

Illinois' and Indiana's plan for a proposed $1.25 billion Illiana Expressway faces a new obstacle in a stinging report that warns of the greenfield P3 toll project's financial risk to Illinois.

Ohio Gov. John Kasich formally launched the work of crafting a new two-year capital budget last Saturday by meeting with the leaders of the state's higher education institutions.

Dixon, Ill. will collect $40 million under a settlement that ends a lawsuit against the town’s auditors and bank who were accused of failing to uncover the theft of $53 million by the city former comptroller.

Moody's Investors Service revised its outlook on Illinois-based Presence Health’s issuer credit rating of Baa1 to negative from stable.

As promised, Fitch Ratings Monday dropped Detroit to D from C a day ahead of the city's expected default on its general obligation bond payments.

All three rating agencies affirmed Chicago O’Hare International Airport's general revenue credit ahead of a new-money and refunding sale for up to $900 million slated for Wednesday.