Midwest

In the sea of junk-rated Detroit debt trading for 30 to 40 cents on the dollar, the piece of the city's defaulted pension certificates that feature Berkshire Hathaway Assurance Corp. continue to see retail bids of nearly 90 cents on the dollar.

Detroit emergency manager Kevyn Orr has reportedly reached an agreement with counterparties on the city's interest-rate swaps that has the creditors taking a 25% haircut.

Chicago O'Hare International Airport's new customer facility charge bond credit established to help finance a consolidated car rental center received a first-time rating of Baa1 from Moody's Investors Service.

Xenia Rural Water District, a once insolvent utility in Iowa that is currently making good on its $125 million of bonds and loans under a restructuring agreement still faces longterm challenges that could threaten its ability to remain on track, according to a state audit.

Moody's Investors Service has dropped Macon County School District 61 in Decatur's general obligation rating by two notches to A3 and warned of further action by assigning a negative outlook over its fiscal woes.

Chicago should declare a tax-increment financing surplus to free up some TIF revenue for the Chicago Public Schools as it grapples with a $1 billion deficit in its fiscal 2014 budget, Cook County Clerk David Orr urged.

The Chicago Landmarks Commission has signed off on the Chicago Cubs proposal to install large outfield video screens at Wrigley Field as part of its $500 million privately financed plan to renovate the landmark ballpark.

The City Colleges of Chicago's proposed $657 million fiscal 2014 budget won the endorsement of the Civic Federation of Chicago for ongoing progress toward improving its fiscal and operational health.

Michigan's emergency loan board Monday approved a move by Pontiac emergency manager to suspend the city's retiree health care payments for up to two years.

Detroit said in a Monday morning court filing that it had reached an important settlement with a creditor that renders moot an escalating dispute with bond insurer Syncora Guarantee Inc. over casino revenues.