Midwest

Moody's Investors Service has lowered Mercy Hospital's rating one level to A3 due to declines in its operating performance.

Chicago is seeking to reduce the size of the $58 million award an independent arbitration panel ruled the city owes private operators of four downtown city and park district-owned parking garages.

Holders of Detroit's general obligation bonds are taking note of the specific pledges securing their paper and how the debt might be treated differently in bankruptcy.

A majority of investors holding $113 million of bonds issued for the privately owned and operated Branson Airport in Missouri have agreed to give the struggling Ozarks air field more breathing room to bolster operations.

Acacia Financial Group Inc. fired Courtney Shea – the former public finance banker hired to open a Chicago office in 2009 -- and added former banker and investment asset manager professional Jim Beck to its Chicago team.

Fresh from a new-money Build Illinois sales tax-backed sale, Illinois plans to return to the market early in June to refund $600 million in its largest issue ever under the 28-year-old bond program.

A five-member Michigan review team Thursday said it found a fiscal emergency in the long-troubled Detroit suburb of Hamtramck, which could lead to an emergency manager.

Indiana Thursday put out a request for qualifications seeking developers interested in a $400 million project to rebuild a section of I-69, the latest in a series of P3s that state officials say make them a leader in the sector.

The Rockefeller Foundation selected eight cities to participate in the RE.Invest Initiative, a national effort to support sustainable infrastructure that includes financial advice on P3 options.

The Chicago Board of Education voted to shutter 49 schools in a move defended by the school system and board members as needed to right-size a district straining with a $1 billion budget deficit.