Midwest

CHICAGO — Illinois could end the fiscal year owing more than $8 billion in bills, a level that underscores the need to cut spending in order to stabilize its balance sheet, Comptroller Judy Baar Topinka warned Wednesday.

CHICAGO — The political landscape of fiscally stressed governments is an increasingly important factor as analysts assess a credit’s risk, a panel of municipal analysts said in here last week.

CHICAGO — Warning of the threat posed to its long-term fiscal stability, the Regional Transportation Authority of Illinois is leading a charge against state legislation that would aid retailers and other businesses seeking to avoid paying some local sales taxes by setting up shell offices elsewhere.

CHICAGO — Two weeks after it hit Cleveland with a credit downgrade, Fitch Ratings has cut the rating on $835 million of bonds issued for Cleveland Hopkins International Airport to A-minus from A.

CHICAGO — Standard & Poor’s boosted the issuer credit rating of South Dakota to AA-plus from AA, citing the state’s strong reserves and low long-term debts.

CHICAGO — The Lombard Public Facilities Corp. in Illinois has extended until Thursday its tender invitation to holders of $144 million of revenue bonds issued to help finance its hotel and conference center.

CHICAGO — Philadelphia-based PNC Capital Markets LLC has hired Kevin Hoecker from Chicago-based financial advisory firm Scott Balice Strategies LLC to lead its push for a bigger chunk of business from Illinois borrowers and their neighbors.

With an airline lawsuit behind it and structural tinkering completed, Chicago will enter the market this week with $1.1 billion of mostly new-money revenue bonds to finance the next phase of projects under an $8 billion expansion program at O'Hare International Airport.

Indiana lawmakers will debate whether to allow municipalities to enter into bankruptcy as they hammer out final differences to a bill passed by both chambers but stripped of the Chapter 9 option by the House.

CHICAGO — Michigan Gov. Rick Snyder is floating a draft bill to advance a controversial and long-stalled $3.8 billion, partially bond-financed bridge spanning the busy trade route between Detroit and Canada.