Midwest

Fitch raised Wayne County's rating to A from BBB-plus, putting its fiscal distress further in the rearview mirror following a round of upgrades this year.

The state will hold an in-person and remote investor meeting Sept. 21 before heading into the market the following week.

The upgrade "reflects material strengthening of the state's financial resilience and budget management, particularly over the past two biennia," the rating agency said.

The bridge loan program announced in July will spare suburban taxing bodies from having to issue tax anticipation notes to bridge a months-long delay in property tax bills going out

Surging state revenues eased the burden of managing fixed costs, Moody's says in an examination of state liabilities based on fiscal 2021 financial reports.

The muni market may get a temporary boost of support this week as investors received $18 billion of maturing and called bond proceeds on Sept. 1.

Moody's dropped the city's rating a notch to A3 and kept a negative outlook on the credit. Persistent structural deficits and pension liabilities were factors.

Baker Tilly will fold specialty consulting firm Management Partners into its public sector practice next month.

COVID-19 worsened the fiscal picture for the senior care, insurance, and hospital operator, but it faced rating pressure before the pandemic.

The authority maintained positive rating momentum by drawing outlook changes from Moody's on both its water and sewer bonds and from Fitch on its sewer debt.