Midwest

Illinois lawmakers are advancing a bill that allocates $2.7 billion of the state's ARPA relief to pay down a $4.5 billion federal unemployment insurance loan.

Mayo is publicly offering $516 million of tax-exempt bonds and privately placing $200 million of taxables.

The Chicago Transit Authority's sales tax pledge remains healthy even as it struggles to recover riders amid rising crime and remote work trends.

Moving beyond its goals for the ownership makeup of a deal team, Wisconsin pushed for diversity among the lead contacts working on a recent transaction.

The state owes $4.5 billion to the federal government for unemployment benefits paid early in the pandemic; bonds may part of the repayment plan.

Indictments of Illinois' former House speaker and the former Chicago city finance committee chair provide fuel for the city's and state's reputations for corruption.

S&P's upgrade moved Detroit's unenhanced GO rating higher in the speculative grades but also lifted a portion of its priority lien debt to investment grade.

This month the University of Michigan sold $1.2 billion and Michigan State University sold $500 million of taxable 100-year bonds.

A bond-funded pension buyout extension and automatic transfers into the state's now meager rainy day and pension stabilization funds are being discussed by Illinois lawmakers as they look to wrap up their spring session next month.

Moody's rewarded Detroit's strides in keeping its books balanced and building reserves with an upgrade that leaves it two notches below investment grade.