Midwest

The five issuers can redeem a total of $128.44 million because sequestration-imposed cuts in the federal subsidy payments they receive triggered extraordinary redemption provisions.

The prestigious Cleveland Clinic announced Wednesday it plans to team up with another Ohio health provider, marking the latest merger transforming the Ohio hospital landscape.

Moody's Investors Service Thursday downgraded the Pontiac City School District to Caa1 from B3 -- a junk rating that reflects expected bondholder loss -- two days after Michigan Gov. Rick Snyder determined the district was in a financial emergency.

New York City can learn valuable lessons from Detroit's bankruptcy, Mayor Michael Bloomberg said, despite the contrasts between the two cities.

After the third Michigan issuer pulled a bond deal from a market grappling with Detroit's bankruptcy, a spokesman for Gov. Rick Snyder said the governor is aware of investor concerns, but says the state remains filled with "smart, sound" bond investments.

The privately owned Branson Airport LLC in Missouri --which is in default on its $113 million of municipal debt -- has filed a lawsuit against a group of airport contractors accusing them of faulty work.

The City Colleges of Chicago has picked a banking team led by Jefferies for its inaugural sale of $250 million of debt that's on track to sell in September or October.

The former chief of the Detroit Medical Center and the Wayne County sheriff will face off in November to be Detroit's mayor, a post that will hold little power until late 2014 at the earliest.

Oakland County, Mich., the triple-A rated county adjacent to Detroit, is plowing ahead with a $300 million taxable retiree health care bond issue set for September as other Michigan issuers shy away from a market still digesting Detroit's bankruptcy.

Chicago leaders faced bond investors and analysts in the week after a three-notch downgrade to the city's debt and after Detroit's bankruptcy raised fears about big-city finances, debt and pension funding.