Midwest

Moody's Investors Service lowered Ascension Health Alliance's rating one level to Aa2 ahead of the nation's largest not-for-profit healthcare system's upcoming sale of $980 billion of refunding bonds.

Columbus, Ohio, will come to market May 29 to refund $368M of Build America Bonds into general obligation debt, taking advantage of flexible redemption provisions that were rare among early BABs issuers.

Illinois' $300 million sale of high-grade taxable, sales-tax backed paper drew 11 bids all within a tight 19 basis point range, state officials said Thursday after the sale.

The Illinois Senate approved a pension reform package Thursday after Democrats argued it stands a better chance at surviving a legal challenge than a rival House bill.

Wisconsin expects to collect an additional $575 million in tax revenue over three years under new projections that fueled calls for tax relief and more spending on education.

Columbus-based law firm Bricker & Eckler hired Christiane Schmenk, former director of the Ohio Development Services Agency, for the firm's public finance group and as part of its economic development consulting subsidiary.

The Michigan State Building Authority, a key state bond issuer that last entered the bond market in mid-2011, approved the issuance of $535 million of new-money and refunding bonds.

Ohio Auditor David Yost warned local governments to tread carefully when talking about their financial conditions, calling this week's SEC charges against Harrisburg, Pa. a "watershed moment" for local politicians.

Morgan Keegan & Co. Inc. denies any wrongdoing and attacks as overtly biased Missouri Secretary of State Jason Kander's petition alleging securities fraud in its role as underwriter of Moberly, Missouri's $39 million of defaulted bonds.

Detroit's Emergency Manager is expected to unveil his highly anticipated report on how to restructure the city's operations and debts on Monday.