Investments

ILLINOIS

Detroit had to pursue a settlement with the interest-rate swap counterparties on its pension certificates or risk the "cataclysmic" loss of access to casino revenues, the city's investment banker told the bankruptcy court Tuesday.

U.S. Sen. Jay Rockefeller wants to know why the Port Authority of New York and New Jersey closed lanes on the George Washington Bridge in September.

The University of California and a union representing more than 12,000 researchers, healthcare, and technical workers reached a tentative labor agreement this week after two years of negotiations.

ILLINOIS

FLORIDA

CHICAGO - Standard & Poor's lowered its rating on Western Illinois University to A-minus from A and assigned a negative outlook. It also revised its outlook on Governors State University's A-minus rating to negative.

CHICAGO - The judge overseeing Detroit's bankruptcy ruled creditors can appeal directly to the U.S. Court of Appeals for the Sixth Circuit rulings that the city is eligible for Chapter 9 and pensions are not protected in bankruptcy.

Colorado State University will improve its main campus in Fort Collins with proceeds from a $141 million bond deal expected to price Tuesday.

Moody's Investors Service is maintaining a stable outlook for public power utilities in 2014, citing modest growth in demand and low volatility in natural gas prices.

The federal Maritime Administration is teaming up with financial experts to help ports develop infrastructure projects that attract private and public capital investments.

A $650 million project featuring a new hockey arena and entertainment district in downtown Detroit stepped closer to reality Friday, and officials announced that it includes the demolition of the storied Joe Louis Arena.

INDIANA

ARIZONA

Volume is expected to trail off to less than $3 billion this week in what will be the last five full trading sessions of 2013 in which a pair of Northeast deals will lead an otherwise skimpy slate of new issuance in the primary market ahead of a holiday hiatus next week.

The democratic caucus of the California State Assembly has released a "budget blueprint" for next year that includes boosting higher education spending and creating a rainy day fund.

It will be a busy week in Detroit, with the federal judge considering to key financings that have sparked major opposition from the muni market, as well as whether creditors can appeal the recent eligibility ruling.

Muni bond mutual funds struggled through their 29th straight week of outflows, at $1.90 billion for the week ended Dec. 11.

ARKANSAS

ALABAMA