Midwest

CHICAGO — American Airlines and United Airlines on Tuesday sued Chicago to block its financing of remaining projects under an $8 billion expansion program at O’Hare International Airport ahead of the city’s sale of $1.1 billion of passenger facility charge-backed bonds next month.

CHICAGO — Detroit, Flint, Pontiac and other urban areas in Michigan have their share of problems, but failing special-assessment debt is not one of them.

CHICAGO — Indiana Gov. Mitch Daniels has named a new state public finance director to replace outgoing director Jennifer Alvey, who leaves the post for the private sector this week.

CHICAGO — In a surprise move, the Detroit City Council effectively rejected a $60 million plan to rehab a vacant casino into a new police headquarters Friday — just three days before construction was set to begin and a month after the city sold bonds to finance the project.

CHICAGO — As Gov. Pat Quinn signed legislation Thursday increasing Illinois’ income tax, his debt manager met with rating agencies while the state plans to issue $3.7 billion of pension bonds next month and may resurrect a failed $8.75 billion borrowing to pay bills.

CHICAGO — Veteran Minnesota-based financial adviser Kristin Hanson will take the reins of debt management for the state’s Office of Management and Budget, commissioner Jim Schowalter announced this week.

CHICAGO — Fitch Ratings on Wednesday lowered its rating on O’Hare International Airport’s upcoming $1.1 billion issue of passenger facility charge bonds by two notches due to the airport’s increased leverage as Chicago seeks to fund remaining projects under an $8 billion expansion without airline support.

CHICAGO — As rating agencies and investors digested details of the Illinois General Assembly’s vote increasing state income taxes by two-thirds, Gov. Pat Quinn defended the action Wednesday as being necessary for the state to dig itself out of its fiscal crisis.

CHICAGO — Indiana lawmakers Wednesday morning held a first hearing on a bill that would allow local units of government to file for Chapter 9 bankruptcy protection.

CHICAGO — Toledo, Ohio-based Promedica Health System will begin pricing $270 million of refunding and new-money revenue bonds Thursday.