Midwest

Chicago Teachers Union members overwhelming approved the new four-year, $295 million contract that ended a seven-day strike last month but will further strain the already cash-strapped district.

Sanford Health, in South Dakota, is bringing $130 million of bonds to market next week to finance an ambitious $1.5 billion capital plan that credit analyst warn could strain the system's otherwise-strong balance sheet.

Gov. Rick Snyder Tuesday formally declared the Detroit suburb of Allen Park to be in a state of fiscal emergency after denying the city's appeal two weeks ago. The city's problems are tied largely to a $31 million 2009 bond issue floated for a now-failed film studio.

Fitch Ratings hit Milwaukee with a one notch downgrade to AA as the city faces lingering economic stress with just restricted powers to raise revenues and limited reserves.

Cash-strapped Illinois will pocket $165 million for selling its empty Thomson Correctional Center to the federal government.

Moody’s Investors Service Monday downgraded to A2 from A1 $79 million of debt issued by Northeast Ohio Medical University, and placed the rating under review for further possible downgrade.

Ohio Gov. John Kasich last week signed into law five bills reforming the state’s retirement systems.

The Missouri Development Finance Board recently approved $17 million in borrowing that will help pave the way for construction to begin next month on the long-planned, but stalled, Ballpark Village project adjacent to the St. Louis Cardinals’ Busch Stadium.

Moody’s Investors Service lowered Monticello, Minn.’s rating due to the city’s declining financial position due in part to its support of its telecommunications utility.

Michigan Gov. Rick Snyder Monday signed the final, supplemental spending pieces of the fiscal 2013 budget.