Midwest

The financial strains facing Michigan's school districts continued to mount in fiscal 2013, with a near-record number reporting deficits, inspiring new state initiatives to get a grip on the problem.

Wisconsin-based Meriter Hospital's steep losses at its affiliated for-profit health plan prompted Moody's Investors Service to downgrade its rating by one notch to A2 and the agency warned of further deterioration by assigning a negative outlook.

Standard & Poor's put Chicago on notice Monday that its A-plus general obligation rating faces a downgrade due to the size of its unfunded pension obligations and the strain of a looming $600 million spike in its pension contributions.

Omaha, Neb. lost its prized triple-A rating from Standard & Poor's and saw a negative outlook revision from Moody's due to the city's large unfunded pension obligation.

After more than a month of nothing, deals are starting to flow again for Michigan local issuers, as Genesee County tested the market Monday with $35 million of GO debt.

Less than half of state pension plans met Morningstar Inc.'s threshold for healthy status in 2012 with Wisconsin again ranking the strongest and Illinois the weakest.

A judgment in a New Jersey civil lawsuit shouldn't impede the ability of the Minnesota Vikings' owners to finance their contribution to a football stadium, a public review found.

Warren Buffett's bond insurance firm Berkshire Hathaway Assurance Corp. made its first appearance in the Detroit bankruptcy as the city filed objections to creditors' requests.

Indiana University Health, the state's largest health care system, announced Sept. 11 that it will lay off 800 employees by the end of the year to save money.

Indiana Secondary Market for Education Loans, Inc. entered into a voluntary closing agreement with the Internal Revenue Service over $221.65 million of student loan bonds issued from 2001 through 2004. Under the agreement, the issuer made a payment to the IRS and redeemed all outstanding bonds.