Midwest

CHICAGO — Michigan today will price $1.3 billion of fixed-rate notes as part of its annual borrowing to cover expenditures throughout the fiscal year as its awaits an influx of revenue.

CHICAGO — With an upgrade from Moody’s Investors Service in hand, Oak Brook, Ill.-based Advocate Health Care Network enters the market beginning today with $240 million of fixed-rate bonds in a deal that cements the Chicago area’s largest health care provider’s acquisition of ­BroMenn Health System.

CHICAGO — Indiana has suffered 14 straight months of falling revenues, prompting Gov. Mitch Daniels to again ordered a round of spending cuts — this time targeting higher education and contributions to employees’ deferred compensation accounts.

CHICAGO — Illinois Comptroller Dan Hynes Friday afternoon announced he would not sign off on Gov. Pat Quinn’s request to issue $500 million of general obligation cash-flow certificates to help pay down a growing backlog of bills, warning that the state can’t afford the additional borrowing.

CHICAGO — The Chicago City Council yesterday approved a $6.14 billion 2010 budget, putting aside concerns over Mayor Richard Daley’s drain on reserves established with proceeds of the city’s parking meter lease to erase a $520 million deficit in order to avoid raising taxes and fees.

CHICAGO — Minnesota is facing a $1.2 billion deficit through 2011 and could see a record $5.4 billion shortfall by 2013, according to the latest state revenue projections released yesterday.

CHICAGO — Columbus, Ohio-based Nationwide Children’s Hospital today will begin pricing $100 million of fixed-rate revenue bonds to finance a chunk of its $800 million, six-year capital plan.

Four Ohio state legislators last week introduced a package of bills that would place a constitutional amendment on the May ballot allowing communities to opt out of having a casino established in their region.

Moody’s Investors Service last week placed its A1 issuer credit rating for the Health Alliance of Greater Cincinnati on watch list for possible downgrade as the system undergoes changes in its corporate structure.

Standard & Poor’s this week announced it had raised the ratings on 11 school districts in Missouri and Wisconsin following a review based on revised credit criteria for smaller districts.