Midwest

Illinois' overall fiscal health reflected in the value of its net assets worsened in fiscal 2012 by $3 billion, pushing it to a negative $46.6 billion, although the pace of deterioration slowed.

Wisconsin's capital finance office is accepting qualifications through next week from underwriters interested in participating on negotiated sales over the next two years.

Detroit emergency manager Kevyn Orr ordered an inspection of all the city employee benefit programs for possible corruption or mismanagement.

Illinois Gov. Pat Quinn wants legislative action on a pension reform bill by July 9, giving the conference committee set up Wednesday three weeks to fashion a package.

Detroit announced Wednesday plans to build a $650 million hockey and entertainment complex downtown that would rely on $300 million of private activity bonds for financing.

Detroit's controversial debt restructuring proposal illustrates the need for clarity in a shifting municipal market, the director of municipal research at Breckinridge Capital Advisors said Wednesday.

Illinois lawmakers convene a special session on pension reform Wednesday but the only action expected is the formation of a special conference committee to fashion a compromise plan.

Monticello, Minn., which defaulted on $26.4 million of unrated telecom revenue bonds, would pay bondholders $5.75 million and free up escrowed funds under a proposed settlement.

Detroit emergency manager Kevyn Orr knows the muni market is rattled that the city would cut GO debt in a restructuring, but says investors had plenty of warning signs.

St. Louis Metro transit enters the market next week with a $375 million issue under a long-planned restructuring and refunding that will introduce a new debt lien supported by revenues from a 2010 voter-approved sales tax.