Midwest

In response to Fitch Ratings’ revision of its outlook on O’Hare International Airport’s general airport revenue bonds to negative, Chicago aviation officials said they are confident the airport’s position as a key hub for bankrupt American Airlines will limit any service cuts as the carrier reorganizes.

CHICAGO - Wisconsin will take competitive bids Tuesday on $138.3 million of general obligation bonds, the first half of a new-money sale to fund capital and infrastructure projects, with the remaining $130 million piece planned for early next year.

CHICAGO — A federal judge in Indiana last week gave final approval to Menasha, Wis.'s $17.5 million settlement with bondholders that resolves litigation over the city's default on $23 million of appropriation-backed notes for its failed steam plant.

Detroit, which is edging closer to a state takeover, could be on the hook for hundreds of millions in termination fees tied to its derivatives contracts on more than $2.5 billion of outstanding debt if the state appoints an emergency manager.

The Michigan Senate Thursday approved legislation that would make Michigan the third state to issue bonds to repay federal loans for unemployment benefits.

CHICAGO — Minnesota now expects an $876 million surplus in its current two-year budget, news welcomed by lawmakers five months after an impasse over how to fully erase $5 billion in red ink that partially shut down the state government for 20 days.

CHICAGO — The Illinois General Assembly wrapped up a special, one-day veto session this week after approving budget changes that will allow seven state facilities to remain open while shooting down a $200 million to $250 million tax relief package that included breaks for companies threatening to leave the state.

CHICAGO — The Metropolitan St. Louis Sewer District got mixed signals from rating agencies this week, winning an upgrade to AAA from Standard & Poor's while losing its top mark from Fitch Ratings ahead of a $53 million revenue bond sale next week.

CHICAGO — Blaming a bad housing market and the failure to reach an agreement with bondholders, an Ohio senior-living facility that missed its most recent debt-service payments filed for Chapter 11 protection last week.

CHICAGO — Michigan Gov. Rick Snyder Tuesday announced the appointment of an emergency financial manager for Flint, finalizing the state's takeover of the struggling city.