Midwest

CHICAGO — The Wisconsin Legislature adjourned late last week, ending its session after approving legislation that authorizes the creation of a new conduit bonding commission and leaving on the table a bill that would have established a regional transportation authority in the Milwaukee area.

Pittsburgh-based PNC Capital Markets Inc. has opened a new public finance office in Cincinnati as part of the firm’s strategic expansion.

Summa Health System, one of the largest health care providers in Ohio, is set to enter the market Tuesday with $175 million of new-money bonds.

CHICAGO — The Chicago Transit Authority early next month will restructure about $100 million of its federal capital grant-backed bonds. The agency will avoid principal payments this year and next in order to accelerate capital spending and provide an operating cushion in case fiscal pressures mount.

CHICAGO — An interim board overseeing Chicago’s convention center authority yesterday recommended Illinois lawmakers overhaul the agency to help bring down convention and trade show costs and ease mounting financial pressures through a debt restructuring plan.

Michigan would see a relatively minor impact on its fiscal position as a result of the new federal health care law, according to an analysis by the Legislature’s Senate Fiscal Agency.

CHICAGO — St. Louis-based SSM Health Care System took retail orders yesterday on $280 million of fixed-rate bonds that will be open to institutional investors today. The deal will be followed early next month with $300 million of floating-rate debt.

CHICAGO — Michigan State University on Thursday will price $205 million of 40-year taxable Build America Bonds for capital projects. The school in May expects to offer a pair of refunding transactions that will restructure some of its variable-rate demand bonds and refund outstanding commercial paper.

CHICAGO — Moody’s Investors Service late last week downgraded two of five Wisconsin school districts, citing fiscal pressures posed by risky investments in collateralized debt obligations with a credit default swap to fund their other post-employment benefit liabilities.

Indianapolis is likely to take over operations at the arenawhere the National Basketball Association’s Indiana Pacers play after the team said it can’t continue to cover annual operating costs.