Midwest

Moody's Investors Service last week placed Crittenton Hospital Medical Center’s Baa1 rating on review for downgrade, warning that the Michigan hospital's debt service coverage ratio has declined below the required covenant provisions.

Michigan Gov. Rick Snyder Monday signed a capital budget bill that authorizes $304 million of debt for projects at higher education institutions.

Members of East St. Louis' elected school board last week mounted a legal challenge to Illinois' decision to take over the troubled district and disband the local board, according to published reports.

Officials from the Chicago Transit Authority Monday said a $20 million federal TIGER grant would allow the agency to move forward with upgrades to a busy transit terminal.

The scale of the pension crisis for Chicago area governments and state has been underscored by recent ratings actions and various local and national watchdog reports warning of the crippling effect on governments' ability to fund basic services and stave off credit deterioration.

Ohio says it will be able to make this year's payments on its Buckeye tobacco bonds without having to rely on reserves like it did in 2011.

Ohio has launched a new web site aimed at giving potential and current investors a detailed look at the state's fiscal position, including bonds, budget, disclosure information, and ratings information.

The new Minnesota Sports Facilities Authority, which will own and operate the new partially bond-financed Vikings stadium, held its first meeting on Friday and picked Ted Mondale as its chief executive officer.

Fitch Ratings downgraded $9.3 million of Toledo Lucas County Port Authority special-assessment bonds to D after the issuer missed two principal payments.

Ohio State University approved a final $483 million concession agreement to lease its parking system for 50 years to QIC Global Infrastructure and LAZ Parking.