Midwest

The highly-regarded Rehabilitation Institute of Chicago received a first time rating of A-minus from Fitch Ratings that banks on a successful fundraising campaign to help repay debt being issued to finance a $550 million replacement facility.

Moody's Investors Service warned it may downgrade the Omaha Public Power District, one of the country's highest-rated utility, as the OPPD struggles to bring its nuclear plant back online amid increased federal regulatory scrutiny.

The prospects for passage of comprehensive legislation to overhaul Illinois' faltering pension system before lawmakers adjourn Friday dimmed after the Illinois Senate overwhelmingly rejected a House-sponsored reform package estimated to save the state $187 billion in the coming decades.

With the clock ticking on a Friday adjournment, Illinois lawmakers are wrapping work up on fiscal 2014 budget bills but a fix for the state's pension crisis still on the table.

It would be difficult but not impossible for Detroit or its creditors to lay claim to the Detroit Institute of Arts' prized collection, bankruptcy attorneys say.

Senate Majority Leader Randy Richardville Wednesday introduced a measure to protect the Detroit Institute of Art's prized art collection, days after the city's emergency manager warned the art is vulnerable to creditors.

The city of Massillon lost its investment-grade ratings last week when Moody's Investors Service knocked its rating down three notches to Ba1 from Baa1.

Moody's Investors Service downgraded a portion of Minnesota-based Northern Municipal Power Agency's debt one notch to A3.

Moody's Friday placed the B1 issuer rating and B2 general obligation limited tax debt rating of Pontiac School District on review for possible downgrade after saying the district missed a debt payment scheduled for May 1.

The Detroit City Council approved Mayor Dave Bing's $1.1 billion general fund 2014 budget for the city, which is under emergency management.