Caitlin Devitt

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.

Are a statutory lien and other state-crafted protections on Detroit's first post-bankruptcy bond sale enough for investors assessing the city's long-term recovery?

Standard & Poor's said it would wait to see the terms of Wayne County's consent agreement with the state before taking action on the junk-rated county.

The Wayne County, Mich., board opted to enter a consent agreement with the state government, one of the four choices it had to deal with the county's financial emergency.

Detroit is nearing its first public bond sale since bankruptcy as it posted bond documents for the deal on Thursday.

The Wayne County, Mich. board of commissioners is scheduled to vote Thursday on how to resolve its financial emergency.

Philadelphia-based Public Financial Management, the country's largest municipal advisory firm, said it has acquired Stauder, Barch & Associates, Michigan's oldest FA firm.

The latest top state court to weigh in on pension reforms ruled in Michigan last week that the state's pension reforms enacted in 2011 are constitutional, overturning two lower court decisions.

Moody’s Investors Service upgrade Dayton, Ohio-based Kettering Health, saying the eight-hospital system has seen a strong financial performance in the last two years.

Moody’s upgraded Detroit by one notch Thursday, though leaving it deep in junk territory, as the city gears up for its first post-bankruptcy bond deal.

Cincinnati’s settlement with its unions and retirees on retirement obligations is one of the reasons why Moody’s said it revised its outlook on the city to stable from negative.