Midwest

CHICAGO — As it works to reduce its reliance on endowment draws and loans to cover operations, the Illinois Institute of Technology held on to its investment-grade rating from Moody’s Investors Service on Friday, when the agency removed the credit from its watchlist and affirmed its Baa3 rating.

CHICAGO — Ohio Gov. John Kasich’s proposed two-year spending plan would gut the budget of one of the state’s oldest bond issuers but leave its bond-issuing authority intact.

CHICAGO — An appeal challenging Wisconsin’s controversial legislation that strips most public unions of much of their collective bargaining powers and raises employee pension contributions and health care premiums should go directly to the state Supreme Court, an appellate panel said Thursday.

CHICAGO — Chicago plans to sell $1 billion of O’Hare International Airport third-lien general airport revenue bonds next month.

CHICAGO — With his proposal to borrow $8.75 billion to pay down bills floundering, Illinois Gov. Pat Quinn is pressing lawmakers to authorize $1.75 billion to $2 billion of short-term bonding to pay off Medicaid-related bills before federal reimbursement rates drop in July.

CHICAGO — Mayor Dave Bing Tuesday said he would challenge newly released U.S. Census results that show Detroit’s population dropped by a quarter in the last decade to 713,000, the lowest head count since 1910.

CHICAGO — Ohio senators Wednesday unanimously passed a $7 billion, two-year transportation budget that allows the state to impose tolls to finance projects and enter into public-private partnerships to build and maintain new infrastructure.

CHICAGO — The bankrupt Fairview Obligated Group, operator of several Chicago-area continuing care retirement communities, will hold an auction next month on its Rockford campus as investors who hold $57 million of mostly tax-exempt debt await word on how much they stand to recoup.

CHICAGO — Dayton, Ohio-based MedAmerica Health Systems will begin taking retail orders Wednesday on $100 million of fixed-rate bonds followed by institutional sales Thursday.

Fewer schools made the Illinois fiscal watch list in fiscal 2010, according to the state Board of Education’s annual financial profile of public school districts.