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Caitlin Devitt

Recent Stories From this Author

Detroit to Refinance DWSD After $1.5B Bonds Tendered
August 22, 2014 Detroit will refinance a chunk of its water and sewer debt as part of a tender offer settlement with bondholders.

Michigan Taps Long-Time Advisor as Interim Housing Director
August 22, 2014 Michigan deputy treasurer Wayne Workman, who joined the state last year after a long stint as its financial advisor at Robert...

Track Detroit Tender Offers on Real-Time Web Site
August 21, 2014 A web site that allows interested parties to watch Detroit water and sewer muni bond tenders in near-real time is being used...

Fitch: Detroit Water, Sewer Tender Offer Not a Distressed Exchange
August 21, 2014 Fitch Ratings said Detroit's offer to holders of $5.2 billion of water and sewer bonds to tender their debt as part of a...

Detroit Schools Win State Okay for $111M Borrowing
August 20, 2014 Detroit Public Schools will move forward with a plan to issue $111 million of state aid notes as well as an updated deficit...

Detroit: Court Should Sanction Syncora
August 20, 2014 Detroit has asked the federal judge in charge of its Chapter 9 to consider forcing bond insurer Syncora Guarantee to issue an...

Dispute Over Detroit's Certificates Could Snag Bankruptcy Exit
August 19, 2014 As Detroit gears up for a key trial on its bankruptcy exit plan next week, a long-simmering dispute over $1.4 billion of...

Syncora: Detroit ULTGO Settlement Violates Voters Rights
August 19, 2014 Bond insurer Syncora Guarantee challenged Detroit's settlement with its unlimited-tax general obligation bondholders in court...

Indy Mayor Names Bond Bank Director
August 18, 2014 Indianapolis Mayor Greg Ballard named Greg Clark to formally take over as director of the Indianapolis Local Public...

Detroit Readying Nearly $1B of LTGO Bonds For Bankruptcy Settlements
August 15, 2014 The Detroit City Council has approved a series of four bond issues that include nearly $1 billion of new limited-tax GO bonds...


Issuance of municipal MSA tobacco bonds by states was the subject of a highly critical article published by ProPublica. The article attempts to make a case that states erred in deciding to issue tobacco bonds. The article was widely circulated across social media. As we frequently observe, the national media focus on the muni market is appreciated, but the facts got muddied in the pursuit of a good story.

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