Midwest

Fitch and S&P downgraded the city as it grapples with rising costs, limited revenue prospects and a looming pension funding spike.

Chicago's Sales Tax Securitization Corp. will sell $150 million of social bonds next month in the city's first ESG-labeled deal.

The merger talks between South Dakota-based Sanford Health and Minnesota-based Fairview Health are the not-for-profit sector's latest consolidation attempt.

Illinois raised its fiscal 2023 revenue estimates by $3.69 billion, giving Gov. J.B. Pritzker enough to propose doubling the state's $1 billion rainy day fund.

If it passes legal muster, Wisconsin counties will decide whether to participate in what would likely be the first securitization of opioid settlement payments.

The borrowing arm of the Missouri Department of Transportation will take competitive bids on $489 million of new money debt Tuesday.

Both S&P Global Ratings and Kroll Bond Rating Agency revised their outlooks for Chicago general obligation bonds to positive from stable.

S&P said the ProMedica's divestiture helps address operating losses but it's a longer road ahead to return to investment grade.

Chicago's upcoming general obligation sale will carry a Moody's rating for the first time since at least 2014.

The market has seen outflows for 13 straight weeks, per Refinitiv Lipper, but Nuveen strategists Anders S. Persson and John V. Miller said "selling is due primarily to investors harvesting tax losses."