Midwest

Kansas City, Mo., plans to launch construction of a streetcar system next year using a bond financing plan designed to protect the city's general budget from project shortfalls.

Moody's has downgraded Rochester, Minn.'s electric utility revenue bonds to Aa3 as a lack of rate increases in recent years have made a dent in the utility's credit quality.

Plans are advancing to ask St. Louis area voters to approve a sales tax increase to raise $760 million to fund improvements to area parks and trails and the Gateway Arch grounds.

Michigan Gov. Rick Snyder last week signed a series of high-profile economic development legislation that creates a Detroit area regional transit authority and a lighting authority for Detroit and other cities.

Standard & Poor's has revised its outlook on Perry Public Schools, Mich. issuer credit rating of BBB-plus to negative from stable due to its ongoing fiscal challenges.

Moody's Investors Service has upgraded the rating on the village of Hodgkins, Ill., $36.6 million of Metropolitan Biosolids Management project revenue bonds to Aa3.

Chicago Mayor Rahm Emanuel's announcement that the city will explore leasing Midway International Airport to private operators came with a full court press to portray any eventual deal as a good one for taxpayers.

The Illinois Finance Authority board signed off on a $90 million financing package for Clare Oaks continuing care retirement community in suburban Chicago as part of a Chapter 11 reorganization plan submitted by bondholders.

Chicago is exploring a second try at privatizing its Midway International Airport, Mayor Rahm Emanuel's administration announced Friday.

The RTA of Illinois board put off a scheduled vote Wednesday on its 2013 budget due to an impasse over the level of fiscal information provided by one of its service boards on up to $1 billion of planned borrowing.