Caitlin Devitt

Sanford Health, in South Dakota, is bringing $130 million of bonds to market next week to finance an ambitious $1.5 billion capital plan that credit analyst warn could strain the system's otherwise-strong balance sheet.

Gov. Rick Snyder Tuesday formally declared the Detroit suburb of Allen Park to be in a state of fiscal emergency after denying the city's appeal two weeks ago. The city's problems are tied largely to a $31 million 2009 bond issue floated for a now-failed film studio.

Moody’s Investors Service Monday downgraded to A2 from A1 $79 million of debt issued by Northeast Ohio Medical University, and placed the rating under review for further possible downgrade.

Ohio Gov. John Kasich last week signed into law five bills reforming the state’s retirement systems.

Michigan Gov. Rick Snyder Monday signed the final, supplemental spending pieces of the fiscal 2013 budget.

A group of high-profile Detroit-area supporters from the business and political communities urged lawmakers last week to advance a bill that would create a regional transit authority.

A new report from Indiana shows that local governments in the Hoosier State carry a total of $34 billion of debt, about half of which is backed by lease payments. School districts have issued the most debt of all political subdivisions.

Lawmakers last week approved legislation that allows local governments to issue bonds to cover the costs of shifting to a 401-k style pension plan, as well as to cover their other-post employment benefits liability. Gov. Rick Snyder is expected to sign the measure.

The Ohio Supreme Court Friday declined to rule on Gov. John Kasich's controversial, bond-financed plan to privatize the state's liquor distribution system, sending the case back to the lower courts.

A ballot referendum that would require a two-thirds legislative majority on any tax increases could negatively impact Michigan's bond rating by restricting its ability to cope with tough economic times, warns an independent research group in a report.

Great Platte River Road Archway Monument in Nebraska museum, showcasing America's pioneer history, defaulted this month on $20 million of capital appreciation bonds, the latest in a series of defaults on $60 million of debt issued in 1998 that the museum has never had enough money to service.

The city of Westfield in Indiana has signed a memorandum of understanding with Citizens Energy Group to sell its water and sewer system to the non profit utility.

Cook County, Ill. officials hope that the Medicaid expansion provision in the Affordable Care Act will help reduce chronic deficits in its large public hospital system.

Standard & Poor's last week raised its long-term rating to BBB from BBB-minus on the Cleveland Cuyahoga County Port Authority's bond fund program. The outlook is stable.

Ahead of a November ballot referendum to repeal Michigan's emergency management law, a new survey shows that 38% of local officials support it.

Benton Harbor, which is under state-controlled emergency financial management by Michigan, hopes to win a $7 million loan from the state to help stabilize its finances, according to local reports.

Oakland County, Mich., last week approved a $1.27 billion three-year general-fund budget that includes no tax increases and $500 bonuses for most full-time employees in the first year.

Omaha lost one of its two prized triple-A ratings Friday when Moody's Investors Service downgraded the city to Aa1. But the move did not mean much of a hit to the city's borrowing costs when it headed to market Monday.

Sequestration would mean $11.1 billion of Medicare cuts starting in 2013, a 2% reduction that would mean more headaches for many non-profit hospitals, especially lower-rated issuers, Fitch Ratings said in a commentary.

A year after firing its new CEO, the Wayne County Airport Authority, Michigan has hired the airport's long-time CFO Thomas Naughton to serve in the top position.