Midwest

Deep-in-the-red municipal returns are not helping assuage investor concerns, creating a negative feedback loop that has yet to see a pause.

FHN Financial Capital Markets hired Rene Moreno to establish a banking presence in Arizona while Melanie Shaker will launch the firm's new Midwest effort.

ProMedica's senior living division has suffered deep pandemic-related fiscal wounds while its hospitals' recovery was set back by the Omicron variant.

Despite compelling yields and ratios, buyers continue to be selective. Even if rates stabilize, municipal investors will likely be cautious for some time, waiting for fund outflows to abate, strategists said.

The Regional Transportation Authority, Chicago Transit Authority and many state universities have drawn positive rating actions as the state's ratings improved.

If the deal closes, the two systems say they will evaluate existing debt structures and combine credits where possible and beneficial.

The Illinois Sports Facilities Authority's hotel taxes are on the rebound but Chicago is on the hook for a $28 million debt service gap this year.

The Metropolitan Pier and Exposition Authority will take higher ratings linked to the state's recent upgrades when it returns to the market to refinance debt.

S&P followed Fitch and Moody's in raising the state's ratings but the upgrades so far haven't halted the state's spread widening amid market turmoil.

Chicago Mayor Lori Lightfoot chose a $1.7 billion proposal from Bally's over two rival plans as the city looks to casino gambling as a new source of revenue.