Caitlin Devitt

Once considered relatively isolated from Detroit's problems, its $6 billion of water and sewer debt have been been pushed into junk territory by two of the three major ratings agencies.

Michigan Gov. Rick Snyder Tuesday signed into law a pair of bills broadening state power over small school districts and appointed a review team to investigate the Pontiac School District.

The Columbus City Council approved an $842 million bond measure for the November ballot, and the city's school district approved a $200 million request.

The Pakistan-based company that last week sold $1.3 billion of notes for a controversial fertilizer plant in Indiana expects to head back to the market with the long-term financing in the first quarter of 2014.

The city of Evanston, Ill. lost its coveted Aaa rating last week when Moody's Investors Service downgraded it to Aa1 in light of the city's large pension liability.

Breaking a weeks-long silence, a spokesman for Michigan Gov. Rick Snyder told The Bond Buyer that the state supports Detroit's plan to default and treat its GO debt as unsecured. It answers a question that's been on the mind of the muni market since Kevyn Orr unveiled his controversial plan in June.

Ohio lawmakers last week sent a two-year $62 billion operating budget to Gov. John Kasich, who will sign the spending plan into law by Sunday, a day of the state's new fiscal year July 1.

Indiana Gov. Mike Pence has named Brian Bailey as the state's new budget director, replacing Chris Atkins who will become director of the Office of Management and Budget.

Michigan Gov. Rick Snyder appointed a former human resources director at the city of Pontiac to serve as emergency manager of Hamtramck, which now enters its second state takeover in less than 10 years.

The Gary/Chicago International Airport Authority is on a fast-track to privatize the airport and surrounding land to help revitalize the struggling city of Gary and position the facility as Chicago's third regional airport.

Moody's Investors Service revised its outlook to negative on the NCAA, warning that litigation tied to the growing public debate over the treatment of student-athletes pose risks to the agency's operations.

After a massive restructuring of Pontiac, Mich., emergency manager Louis "Bud" Schimmel says he's ready to retire after tackling one last obstacle: the city's retiree health care debt.

University Hospitals, one of Cleveland's largest systems, wants to acquire nearby EMH Healthcare.

Detroit's restructuring plan illustrates how unfunded pension and health care liabilities threaten bond insurers, Moody's Investors Service said in a comment Monday.

Posey County, Ind. will bring nearly $1.3 billion of short-term refunding debt to market for a controversial fertilizer plant after the state dropped its support.

Detroit emergency manager Kevyn Orr ordered an inspection of all the city employee benefit programs for possible corruption or mismanagement.

Detroit announced Wednesday plans to build a $650 million hockey and entertainment complex downtown that would rely on $300 million of private activity bonds for financing.

Detroit's controversial debt restructuring proposal illustrates the need for clarity in a shifting municipal market, the director of municipal research at Breckinridge Capital Advisors said Wednesday.

Detroit emergency manager Kevyn Orr knows the muni market is rattled that the city would cut GO debt in a restructuring, but says investors had plenty of warning signs.

The Michigan Court of Appeals Friday blocked an Ingham County judge's order that an aide to Gov. Rick Snyder turn over the names of all candidates for the Detroit emergency manager position.