Caitlin Devitt

Detroit's plan to restructure its debt "puts default squarely on the table" and signals bankruptcy is a real option, Moody's Investors Service says in a comment.

Michigan's recovery from its "lost decade" is expected to continue through 2017, economists and fiscal officials said, projecting nearly $700 million in largely one-time new revenues for the 2014 budget.

Detroit Mayor Dave Bing, who ran the city amidst its most tumultuous period, said Tuesday he won't run for re-election – but said he is eying a bid for Wayne County Executive's office.

Fitch Ratings last week downgraded Kalamazoo, Mich. to AA from AA-plus, saying the city faces a myriad of challenges.

The Detroit branch of the National Association for the Advancement of Colored People filed a lawsuit Monday saying Michigan's new emergency management law violates the voting rights of African Americans.

Gov. Mike Pence last week signed into law a measure that will allow the Indiana Motor Speedway to issue $100 million of bonds backed by a new state credit.

Putting bondholders on notice, Detroit Emergency Manager Kevyn Orr said restructuring the city's debt is essential to the city's survival and outlined four options he is currently considering in a new report released Sunday.

Columbus, Ohio, will come to market May 29 to refund $368M of Build America Bonds into general obligation debt, taking advantage of flexible redemption provisions that were rare among early BABs issuers.

Columbus-based law firm Bricker & Eckler hired Christiane Schmenk, former director of the Ohio Development Services Agency, for the firm's public finance group and as part of its economic development consulting subsidiary.

The Michigan State Building Authority, a key state bond issuer that last entered the bond market in mid-2011, approved the issuance of $535 million of new-money and refunding bonds.

Ohio Auditor David Yost warned local governments to tread carefully when talking about their financial conditions, calling this week's SEC charges against Harrisburg, Pa. a "watershed moment" for local politicians.

Detroit's Emergency Manager is expected to unveil his highly anticipated report on how to restructure the city's operations and debts on Monday.

Cincinnati attorneys told a federal appeals court Monday that a legal challenge to the $197 million plan to privatize the city's parking system will force the city to lay off hundreds of employees to offset budget shortfalls.

Fitch Ratings last week affirmed its AA-minus on $1.8 billion of debt held by Catholic Health Partners, Ohio's largest health care system.

Detroit Emergency Manager Keyvn Orr Monday issued his sixth executive order, approving funding for the newly created Public Lighting Authority.

A judge last week ordered Detroit Emergency Manager Kevyn Orr, the state budget director and another state official to be deposed in a lawsuit contesting Orr's appointment.

Beacon Health expects strong investor response when it comes to market Wednesday with $157 million of AA-minus rated hospital bonds that marks the first borrowing for the newly created credit.

North Dakota lawmakers Friday set a record for remaining in session until the final day as they continued to debate a budget that includes record appropriations for the oil-boom region of the state as well as income and property tax cuts.

Six months after announcing a proposed merger, Trinity Health and Catholic Health East said Thursday they've closed the deal, which will create the second-largest health care provider in the country.

After two years of running the troubled Detroit Public Schools, Roy Roberts announced Wednesday morning he will step down from the post in two weeks.