Midwest

The Chicago-based Poetry Foundation won a Moody's upgrade in recognition of the successful completion of its new headquarters with little impact on its strong balance sheet.

A special Illinois legislative committee charged with solving the state's pension crisis meets again Wednesday after a hearing provided little indication of how it would accomplish its task.

Cook County, Ill. faces a projected $152 million shortfall next year, according to the preliminary 2014 budget released Thursday by Cook County Board President Toni Preckwinkle.

Chicago officials blamed state inaction on pension reform for Fitch Ratings' move to put the city's AA-minus general obligation and sales tax ratings on negative watch.

An Illinois committee tasked with crafting a pension overhaul holds its first public meeting, while the Gov. Pat Quinn says the state's $1.3 billion GO sales demonstrates the price of its bad credit ratings.

Indiana Gov. Mike Pence has named Brian Bailey as the state's new budget director, replacing Chris Atkins who will become director of the Office of Management and Budget.

Michigan Gov. Rick Snyder appointed a former human resources director at the city of Pontiac to serve as emergency manager of Hamtramck, which now enters its second state takeover in less than 10 years.

Illinois' weakened fiscal condition and battered ratings translate in steep borrowing penalties but won't lead to a default any time soon, a new academic research paper asserts.

The Gary/Chicago International Airport Authority is on a fast-track to privatize the airport and surrounding land to help revitalize the struggling city of Gary and position the facility as Chicago's third regional airport.

Moody's Investors Service revised its outlook to negative on the NCAA, warning that litigation tied to the growing public debate over the treatment of student-athletes pose risks to the agency's operations.