Caitlin Devitt

The Ohio Supreme Court has set Sept. 9 as the date to hear oral arguments in a case related to the constitutionality of JobsOhio, a private entity that leased the state's liquor distribution system last year.

A fiscal watchdog group warned that Chicago Public Schools faces serious long-term problems -- led by pensions -- despite implementing more than 2,000 layoffs and 50 school closings last year.

Fitch Ratings Wednesday downgraded $41 million of highway improvement bonds issued by Ohio’s Butler County Transportation Improvement district amid declining debt service coverage levels.

U.S. Bankruptcy Judge Steven Rhodes Wednesday heard arguments from a bond insurer trying to halt Detroit's only pre-filing settlement, which would terminate interest-rate swaps hedging the city's pension certificates.

Detroit Public Schools sold $92 million of one-year notes Tuesday with a 4.37% interest rate, a steep penalty compared to most municipal short-term debt but less than the district paid in recent years.

Of the 140 creditors challenging Detroit’s eligibility for bankruptcy, not one was a bondholder or bond insurer, who learned “an object lesson from Stockton,” according to bond attorneys.

Michigan lawmakers are taking a fresh look at a long-stalled plan to raise $1.2 billion in new money for the state's transportation infrastructure.

Indianapolis plans to borrow $135 million to finance a citywide infrastructure campaign through 2016, Mayor Greg Ballard announced last week.

Creditors opposed to Detroit's bankruptcy petition face a midnight deadline today to file their objections to the plan, while firms fighting the city's one and only settlement gear up for a Wednesday hearing.

The prestigious Cleveland Clinic announced Wednesday it plans to team up with another Ohio health provider, marking the latest merger transforming the Ohio hospital landscape.

Moody's Investors Service Thursday downgraded the Pontiac City School District to Caa1 from B3 -- a junk rating that reflects expected bondholder loss -- two days after Michigan Gov. Rick Snyder determined the district was in a financial emergency.

After the third Michigan issuer pulled a bond deal from a market grappling with Detroit's bankruptcy, a spokesman for Gov. Rick Snyder said the governor is aware of investor concerns, but says the state remains filled with "smart, sound" bond investments.

The former chief of the Detroit Medical Center and the Wayne County sheriff will face off in November to be Detroit's mayor, a post that will hold little power until late 2014 at the earliest.

Oakland County, Mich., the triple-A rated county adjacent to Detroit, is plowing ahead with a $300 million taxable retiree health care bond issue set for September as other Michigan issuers shy away from a market still digesting Detroit's bankruptcy.

A second Michigan government is delaying its bond sale amid concerns over fallout from Detroit's bankruptcy.

Indiana last week announced a shortlist of four firms that will compete for a chance to partner with the state on a $400 million interstate highway project.

Detroit emergency manager Kevyn Orr has hired Christie's Appraisals to appraise the collection of the Detroit Institute of Arts.

The Pontiac City School District located outside Detroit stepped closer to a state takeover Friday when a state review team declared it to be in a state of financial emergency.

Detroit expects to file a final plan of adjustment by the end of the year, months ahead of a proposed March deadline, attorneys for the city told the federal judge overseeing the bankruptcy case.

The federal judge overseeing Detroit's bankruptcy case may weigh in this morning on the city's one and only creditor settlement, which terminates a series of interest-rate swaps hedging its pension certificates.