Midwest

Illinois expects to close out fiscal 2013 with $1.3 billion more in income tax revenue than previously projected, offering investors a rare bit of positive state financial news just ahead of a $300 million sales tax backed bond sale Thursday.

Cincinnati attorneys told a federal appeals court Monday that a legal challenge to the $197 million plan to privatize the city's parking system will force the city to lay off hundreds of employees to offset budget shortfalls.

With labor union backing, the Illinois Senate will vote Thursday on a pension reform package setting the stage for a compromise with the House over a dueling plan or an impasse.

Fitch Ratings last week affirmed its AA-minus on $1.8 billion of debt held by Catholic Health Partners, Ohio's largest health care system.

A judge ruled last week that several Kansas City, Mo. business owners behind a lawsuit challenging the legality of the funding mechanism for the city's proposed $102 million, two-mile downtown streetcar line don’t have to file a bond to proceed with their appeal.

Detroit Emergency Manager Keyvn Orr Monday issued his sixth executive order, approving funding for the newly created Public Lighting Authority.

A judge last week ordered Detroit Emergency Manager Kevyn Orr, the state budget director and another state official to be deposed in a lawsuit contesting Orr's appointment.

Fitch Ratings and Moody's Investors Service recently revised their outlooks on Methodist Medical Center of Illinois' rating to positive from stable in recognition of its improved operating performance.

Beacon Health expects strong investor response when it comes to market Wednesday with $157 million of AA-minus rated hospital bonds that marks the first borrowing for the newly created credit.

The University of Chicago will offer up about $350 million of taxable and tax-exempt paper this week as it wraps up borrowing for the final phases of a $1.2 billion capital program and gears up for a new fundraising campaign.