Midwest

Fitch Ratings last week downgraded Toledo’s sewer bonds to A-plus from AA-minus due in part to a weakening of the system’s debt service coverage levels over the past two years.

Voters rejected 17 of 23 school levy requests in special local elections held last week across Ohio.

The Missouri House’s Budget Committee chairman last week proposed that the state dip into its reserves to pay for recovery efforts from recent weather-related disasters, according to published reports.

Standard & Poor’s last week revised its outlook to positive from stable on Northfield Hospital’s low investment-grade rating of BBB-minus.

Detroit Mayor Dave Bing announced last week that the city has reached a voluntary settlement with a union, resulting in a number of reforms.

Three unions that represent employees in the Detroit Public Schools system filed a federal lawsuit over a 10% pay cut and new requirement that employees pay 20% of their health care costs.

CHICAGO - Underwriters interested in participating in the financing team for Minnesota's proposed tobacco bond issues have until Aug. 24 to submit their proposals for review.

CHICAGO - Ohio will price $25 million of federally taxable general obligation bonds Tuesday that will finance cash bonuses for Ohioans who are veterans of recent wars.

CHICAGO — Chicago Public Schools unveiled a proposed $5.9 billion fiscal 2012 budget on Friday that closes a $712 million deficit through a mix of administrative and program cuts, a property tax increase, and with $241 million in reserves.

CHICAGO - With no near-term plans to resurrect his predecessor's proposed lease of Midway Airport to private operators, Chicago Mayor Rahm Emanuel wants to leave the door open to it by asking the Federal Aviation Administration to preserve its approved slot under a pilot program.