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Caitlin Devitt

Recent Stories From this Author

Detroit Schools CFO Out
April 17, 2015 Detroit Public Schools' CFO William Aldridge's departure comes at a critical time for the struggling district.

Bill Giving Statutory Lien to Detroit Income Tax Bonds Heading to Governor
April 16, 2015 The Michigan Legislature has passed a bill giving Detroit bondholders a statutory lien and intercept on its income-tax bonds,...

Michigan Gov. Taps New Managers for Detroit-Area School Districts
April 16, 2015 Michigan Gov. Rick Snyder has appointed two successor emergency managers to a pair of suburban Detroit school districts under...

Ohio Reps Gut Kasich's $72B Budget Plan
April 15, 2015 In a proposed $72 billion budget, Ohio lawmakers dropped all of Gov. John Kasich's proposals to increase taxes to offset a...

Indiana School Funding Revamp Sparks Controversy
April 14, 2015 Hoosier lawmakers are revamping the state's school funding formula to boost money for growing suburban districts in a move...

Post-Default, Michigan School District Faces Fresh Cash Crisis
April 13, 2015 Two years after defaulting on a bond payment, the school district of Pontiac, Mich. has stabilized under state oversight but...

Struggling Ohio City Wants State Aid Money Back
April 13, 2015 A struggling Cleveland suburb that is in a state of fiscal emergency wants the state to restore the $6.7 million in local...

Fitch Boosts Cleveland's Outlook to Positive
April 7, 2015 Fitch Ratings boosted its outlook to positive from stable on Cleveland, Ohio, saying the outlook reflects improved financial...

Sin Taxes Aren't a Financial Panacea
April 7, 2015 As cash-strapped governments like Illinois and Chicago eye non-traditional revenues like gambling and marijuana, economists...

Indiana Toll Road Bid Good for Investors: Wells Fargo
April 6, 2015 Despite the bankruptcy of its current operator, the Indiana Toll Road continues to show the benefits of privatization, as does...


Although defaults have not yet occurred, it is not too early for holders to take a hard look at the applicable bond documents to evaluate their rights and leverage in the restructurings or refinancings that have begun and which may proliferate in the years ahead.

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