Moody's

A year after raising its ratings to investment grade, Moody's Ratings upgraded Detroit's issuer and general obligation bond ratings again, to Baa1.

The ratings agency said fund balances had declined as a percent of operating revenues and are expected to decline further.

The action follows an upgrade for the sole purchaser of its power.

The state of Maryland is going to market on Wednesday by selling $1.56 billion of general obligation bonds, which will be the first major sale since the state absorbed a credit downgrade from Moody's.

Washington has paid off $198 million of its bonds supporting the mixed-use development at The Wharf fifteen years before their maturity date bringing some good financial news to a city wrestling with its budget.

Maryland is preparing for upcoming bond sales as the state treasurer responds to a Moody's downgrade by suggesting the state part ways with the rating agency.

Municipals were cut up four basis points, depending on the curve, through noon.

Moody's Ratings cited low liquidity as a reason for the downgrade.

Moody's Ratings revised the outlook to negative from stable but affirmed the A1 rating on the CTA's senior lien sales tax bonds.

Moody's upgraded Minneapolis to Aaa. The outlook is stable, reflecting an expectation that a strong financial profile will help absorb cost pressures.

Suffolk's improved finances won the county its third rating upgrade this year.

Northern Illinois University is going to market with $62 million of certificates of participation to finance energy-saving projects affecting 50 buildings.

The downgrade affects $2.1 billion in bond debt and extends to its utility debt.

Moody's also upgraded other Florida locality bonds recently as a result of a revised cities and counties rating methodology.

Florida's Aaa credit is a factor in all the upgrades, the rating agency said.

S&P Global Ratings placed more than 400 state and local government issuers under criteria observation as the agency adopts an updated rating methodology.

"That's great news, and it reflects the outstanding work and commitment of our city council and my administration to keep Tampa on rock-solid financial footing," said Tampa Mayor Jane Castor.

The agency cited a sustained commitment to healthy reserves and structural balance.

Moodys says it is placing additional weight on the states' Aaa ratings in determining the Garvee ratings.

Both ratings agencies cited the health system's improved liquidity in recent years.