Caitlin Devitt

Chicago Mayor Rahm Emanuel will reportedly propose a $500 million tax increase as part of his new 2016 budget largely for police and fire pension payments.

All three major rating agencies now have Cook County, home to Chicago, on negative outlook amid major pension obligations and other financial challenges.

Illinois has a new deputy debt director and plans to sell bonds at some point this year, according to a spokesperson for Gov. Bruce Rauner.

Ohio state Sen. Joe Schiavoni wants to ask voters for authorization to borrow up to $1 billion of bonds to finance sewer and water projects across the state.

Standard & Poor's Tuesday removed Wayne County's junk rating from Creditwatch Negative, the latest piece of good ratings news tied to the county's consent agreement with the state of Michigan.

Griggs County, N.D. is suing its own building authority to get out of lease payments supporting a controversial bond deal that sparked a recall of the entire county board.

A struggling hospital in an affluent Detroit suburb has merged with Ascension Health, the largest non-profit health care system in the country.

The budget stalemate in Illinois matters less than how the state finally decides to deal with its pension problem, Moody’s says in a new report.

Expectations of nearly $1 billion in new revenue for rebounding Michigan would not be enough to offset shortfalls if the Legislature and Gov. Rick Snyder enact a plan to rely on the general fund to finance road repairs, warns a new report.

After downgrades from all four rating agencies since May, Chicago Public Schools got a fresh warning from Moody’s on Monday that its new budget could mean more negative ratings action.

The Detroit suburb of Allen Park wants bondholders to sell back at par $31 million of bonds floated for a now-failed film studio that the city blames for a long financial decline.

Detroit snagged investment-grade ratings from Moody's Investors Service on its senior-lien water and sewer debt for the first time since before the city filed for bankruptcy.

Former Ohio Deputy Treasurer and Chicago Comptroller Amer Ahmad was been extradited to the United States from Pakistan to serve a 15-year prison term for his role in a kickback scandal involving state investment business at the Ohio treasurer's office.

Moody's revised its outlook on the nonprofit health care sector to stable from negative, where it has been since 2008, citing significant gains in several key areas.

A federal judge this week sided with Ohio when he dismissed a lawsuit challenging the use of Ohio Turnpike toll revenue to fund projects that aren't on the turnpike itself.

Fitch Ratings said 2014 hospital medians showed surprisingly strong results, while capital spending in the sector hit the lowest point in six years.

The Wayne County Commission Thursday approved a consent agreement with Michigan that will mean a partial state takeover for the struggling county.

Moody’s Investors Service has downgraded more than three dozen Michigan school districts this year as falling enrollment continues to strain their finances.

Markham, Ill., faces a possible further downgrade of its junk-rated debt unless it releases updated financial information by Aug. 24, Standard & Poor's said Monday.

Wayne County's proposed consent agreement with the state requires the county to continue to make timely debt payments and enhances the government's power over collective bargaining.