Midwest

CHICAGO — The top-rated Metropolitan Water Reclamation District of Greater Chicago aims to enter the market Wednesday with $500 million of mostly taxable Build America Bonds — but it may reduce, restructure, or postpone the sale depending on interest rates.

CHICAGO — Pre-subsidy interest rates ranged from 5.1% to 8.4% on $100 million of recovery zone economic development bonds that Detroit sold last week through a Michigan conduit.

CHICAGO — Fitch Ratings and Moody’s Investors Service hit Wayne County, Mich., with dual downgrades to the low single-A category last week as it prepares to sell $200 million of recovery zone economic development bonds Wednesday.

CHICAGO — The Indianapolis Airport Authority on Tuesday will price a yet-to-be determined amount of refunding bonds to take advantage of the federal alternative-minimum tax holiday.

CHICAGO — Ohio’s effort to ensure local governments issue as many recovery zone bonds as possible before the end of the year has prompted Columbus to enter the market Tuesday to use a fresh allocation of just under $60 million.

Fighting insolvency, the Xenia Rural Water District of Iowa made a partial debt-service payment due last week on $83 million of water revenue bonds — with CIFG Assurance North America Inc. covering the remainder — as the struggling utility prepares to release a restructuring plan later this month.

The Minnesota Democrat-Farmer-Labor Party's Mark Dayton officially became the governor-elect Wednesday after Republican challenger Tom Emmer conceded the race.

The junk-rated city of Detroit will access the market through a Michigan conduit Thursday as it seeks to raise $100 million to finance a new police headquarters in a vacant MGM casino.

With an upgrade in hand, the University of Missouri System will enter the market Wednesday with up to $265 million of Build America Bonds to fund improvements at various campuses and its health care facilities.

Fitch Ratings has affirmed Milwaukee County's AA-plus general obligation rating but the agency revised its outlook to negative from stable due to the county's budget struggles.