Caitlin Devitt

After Indiana dropped support for a controversial $1.8 billion fertilizer plant, Posey County in Indiana said it would act as conduit issuer for bonds to help the Pakistani-based company close the deal.

Detroit emergency manager Kevyn Orr will hold his first formal meeting with the city's creditors, including bondholders, June 14 at Detroit Metro Airport.

Moody's Investors Service late Wednesday downgraded Detroit Public Schools, now in its fifth year of state oversight, and the Pontiac City School District, located outside Detroit, which defaulted on a May debt-service payment.

The Michigan Senate Majority Leader delayed until Tuesday a vote on a measure that would protect the Detroit Institute of Arts' collection from the city's financial problems amid questions from his Republican colleagues.

A pair of Summit County senators have introduced legislation that aims to restrict the ability of national conduit issuers to float bonds on behalf of local economic development projects.

Cincinnati-based Catholic Health Partners, Ohio's largest health care system, announced last week it is acquiring Kaiser Permanente Ohio, a northeast Ohio health plan.

Moody's Investors Service Monday affirmed its A2 rating on Bronson Healthcare Group and revised the outlook to stable from positive, saying the system has had softer operating margins following a 2011 merger and faces higher capital demands in 2013.

Standard & Poor's last week boosted its rating on Farmington Hills to AAA, making it one of only a handful of Michigan municipalities that carry the coveted top marks.

Three years after asking the state for permission to file bankruptcy, the troubled Detroit suburb of Hamtramck stepped closer to state takeover Monday when Gov. Rick Snyder declared it to be in a state of fiscal emergency.

Bloomfield, a town of 41,000 about 10 miles outside of Detroit, is set to become one of the state's first local governments to take advantage of a new law allowing municipalities to issue bonds to pay off their pension liabilities.

Moody's Investors Service warned it may downgrade the Omaha Public Power District, one of the country's highest-rated utility, as the OPPD struggles to bring its nuclear plant back online amid increased federal regulatory scrutiny.

It would be difficult but not impossible for Detroit or its creditors to lay claim to the Detroit Institute of Arts' prized collection, bankruptcy attorneys say.

Senate Majority Leader Randy Richardville Wednesday introduced a measure to protect the Detroit Institute of Art's prized art collection, days after the city's emergency manager warned the art is vulnerable to creditors.

The city of Massillon lost its investment-grade ratings last week when Moody's Investors Service knocked its rating down three notches to Ba1 from Baa1.

Moody's Friday placed the B1 issuer rating and B2 general obligation limited tax debt rating of Pontiac School District on review for possible downgrade after saying the district missed a debt payment scheduled for May 1.

The Detroit City Council approved Mayor Dave Bing's $1.1 billion general fund 2014 budget for the city, which is under emergency management.

Holders of Detroit's general obligation bonds are taking note of the specific pledges securing their paper and how the debt might be treated differently in bankruptcy.

A five-member Michigan review team Thursday said it found a fiscal emergency in the long-troubled Detroit suburb of Hamtramck, which could lead to an emergency manager.

Indiana Thursday put out a request for qualifications seeking developers interested in a $400 million project to rebuild a section of I-69, the latest in a series of P3s that state officials say make them a leader in the sector.

Michigan Gov. Rick Snyder and GOP leaders have reached an agreement on spending targets for 2014, but Snyder said the $50 billion plan fails to address some long-term issues, including Medicaid and road funding.