Midwest

County executives in southeast Michigan made their final appointments to a newly created four-county Regional Transit Authority.

Iowa Gov. Terry Branstad last week defended state financial incentives and bonding assistance that helped lure an Egyptian-owned fertilizer project in response to questions being raised over contract fraud charges leveled against the company by the federal government.

Standard & Poor's has raised Rush University Medical Center Obligated Group's rating by one notch to A in recognition of the system's new patient tower and good operating performance.

Chicago-based Roosevelt University's was downgraded by Fitch Ratings last week and faces further deterioration in the assignment of a negative outlook as the school struggles with enrollment challenges.

Michigan Treasurer Andy Dillion could not pinpoint Detroit emergency manager Kevyn Orr's biggest challenge, but said reaction to Orr's appointment has been positive.

The University of Chicago plans to sell up to $400 million of debt through the Illinois Finance Authority to refund existing bonds and finance an ongoing capital program that includes new and renovated facilities.

Chicago narrowed the field of potential bidders on a Midway Airport lease down to six from among 16 responses it received during its request for qualifications process.

Standard & Poor's Friday boosted its outlook on junk-rated Detroit to stable from negative, saying the state's appointment last week of an emergency manager bodes well for the city's future fiscal position.

Chicago's motor fuel tax credit was downgraded three nothes by Moody's Investors Service as the agency notched the credit with Illinois bond rating.

Michigan firm Miller Canfield Paddock and Stone PLC is expected to continue to serve as Detroit's local outside counsel as it embarks on a large-scale restructuring, with Ohio-based Jones Day serving as national restructuring counsel.