Midwest

After scaling back on capital projects, Chicago Public Schools reversed course to bolster spending by $364 million in part to finance investments in schools slated to take students from more than 50 set to close.

Moody's Investors Service issued a report on Wednesday that examined the local governments and school districts that rely on federal employment, procurement, Medicare reimbursement and education grants that would be most affected by sequestration.

Moody's Investors Service said Wednesday that it is closely watching several key events throughout 2013, including five scheduled debt-service payments, for any impact on the city's already junk-level credit rating.

At least 11 small Wisconsin cities -- who approached the federal government's Build America Bond program with a skeptical eye and stuck with flexible redemption provisions – may act on their options due to federal subsidy cuts.

As Detroit embarks on a massive restructuring of its long-term debt, the city's decisions over the years to wrap nearly all its bonds with insurance may prove as much a benefit to the city as to its bondholders.

The Ohio House last week approved a $61.5 billion, two-year, general fund budget that leaves out Gov. John Kasich's plan to expand Medicaid under the new federal health care law.

Michigan Gov. Rick Snyder appointed a financial review team to examine the finances of the city of Hamtramck after a preliminary review found a serious financial condition.

Standard & Poor's raised DePaul University's issuer credit rating by one notch to A in recognition of its strong operating performance and overall growth.

Perri Irmer, the former executive director of the Illinois Sports Facilities Authority, is accusing the former board chairman and the Chicago White Sox owner of improperly ousting her from the position in a federal lawsuit.

Milwaukee will take competitive bids on $200 million of notes and bonds Tuesday to raise funds to smooth out cash flow and finance capital projects.