Midwest

A coalition of public unions attacked pension reform plans floated by Gov. Pat Quinn and lawmakers as unconstitutional and offered to increase their contributions if the state guarantees to annually fund its share needed to shore up the system.

Missouri Gov. Jay Nixon's proposed fiscal 2014 budget can count on roughly $7.9 billion in general revenues, a figure that's up slightly from the current year.

Michigan Gov. Rick Snyder has named the six-member team charged with reviewing Detroit's battered finances in a process that could eventually lead to the appointment of a financial manager.

Holders of bankrupt American Airlines' New York City airport debt are weighing a settlement offer that would pave the way for the carrier to assume its lease at John F. Kennedy International Airport.

Standard & Poor's has revised its outlook to stable from positive on Franciscan Sisters of Christian Charity Ministries Inc.'s BBB-plus rating.

Columbus-based law firm Bricker & Eckler LLP has hired two new public finance attorneys, Bill Mason and Rob McCarthy.

Moody's Investors Service called Minnesota's latest revenue forecast a positive for school district ratings as a budget surplus will allow the state to begin making good on about $1 billion in aid districts are owed.

Detroit Public Schools has released its comprehensive annual financial report, which shows a general fund deficit of $76.3 million, down from $283.9 million.

After months of debate, Carmel, Ind. last week refinanced $186 million of debt for a concert hall and theater. The city's total interest cost was 3.24% on the mix of taxable and tax-exempt bonds, with net present value savings of $55 million.

Moody's Investors Service lowered Roosevelt University's rating one notch to Baa3 as the Chicago-based school struggles with enrollment challenges.