Midwest

CHICAGO - Detroit Mayor Dave Bing on Thursday publicly raised the specter that perhaps only a state-appointed emergency manager will have the tools necessary to solve the long-troubled city's financial woes. He left the door open to the possibility of taking on the role.

CHICAGO - The chief financial officer of pharmaceutical wholesale company H. D. Smith will take over as CFO of Chicago Public Schools next week.

CHICAGO - One troubled local school district in Michigan has seen its ratings sink into junk territory while another could be heading toward a state-mandated takeover.

CHICAGO - Moody's Investors Service warned Thursday that Illinois' crackdown on the property-tax exemptions of nonprofit hospitals over the amount of charity care they provide could pose a credit threat to the sector here.

CHICAGO - Moberly, Mo., on Tuesday informed the trustee of $39 million of annual appropriation-backed revenue bonds that it won't honor its pledge to repay the debt issued to help finance construction of a half-built artificial sweetener plant abandoned by a Chinese company.

CHICAGO - Two large Chicago-area health care systems announced Wednesday they have finalized a merger that will create the largest Catholic health care network in Illinois.

Missouri, a strong but rare issuer, will take competitive bids Wednesday on a $23.4 million refunding of appropriation-backed debt sold through a conduit to cover the state’s share of the University of Missouri-Columbia basketball arena that opened in 2004.

The Michigan state treasurer last week said Three Oaks, located in Berrien County, is out of state receivership.

Moody’s Investors Service has revised its outlook on Mercy Hospital’s A2 rating to negative from stable due to a decline in operating performance.

Indiana Gov. Mitch Daniels last week appointed public finance veteran Jennifer Alvey to the State Lottery Commission.