Caitlin Devitt

Moody's Investors Service last week affirmed its B1 rating and negative outlook on Detroit Public Schools, saying the district has seen improved financial results in 2011 and 2012, but still faces serious challenges.

Detroit officials this week announced the city won a $30 million federal grant to help buy and upgrade city buses among other capital upgrades.

The Government Finance Officers Association gave its annual Distinguished Budget Presentation award to Cook County Board President Toni Preckwinkle.

Ohio State University touted the results of last week's $114 million refunding, saying demand outstripped supply by nearly three times, and that the deal was the university's latest successful move to drum up new revenue for its academic programs.

Moody's Investors Service, which maintains a negative outlook on the non-profit health care industry, downgraded more hospitals than it upgraded during the second quarter of 2012, a trend analysts expect to continue throughout the year

Fitch Ratings stripped a retail development located in an affluent Ohio town of its investment grade rating, warning that weak cash-flow and a high loan-to-value ratio could lead to foreclosure.

A new 3.8% tax on investment income that's part of the federal health care overhaul will boost demand for tax-free municipal bonds starting next year, say some market experts.

City officials say the $102 million of cuts - made without union or city council approval - are needed to avoid "chaos" as the city is on track to go broke by Oct. 15.

The Ohio House this week begins hearings on long-stalled pension reform plans a week after a new report said the Buckeye State's retirement systems have plenty of strengths but need reforms to build funded levels.

Moody's Investors Service last week affirmed its Baa2 rating on Wayne County, Mich., but revised the outlook to negative from stable.

The powerful nine-member financial advisory board that oversees Detroit's consent decree with Michigan undertook its first major action last week, approving $102 million of cuts proposed by Mayor Dave Bing.

The Michigan Supreme Court agreed last week to hear a simmering dispute over a ballot referendum to overturn the state's emergency manager law. The court set a date of July 25 for the hearing.

As states decide whether to participate in the now-voluntary Medicaid expansion program under federal health care reform, analysts and other muni market experts say the decision will likely have little impact on states' bottom line.

An Ingham County judge shot down the Detroit Corporation Counsel's motion to reconsider the dismissal of a lawsuit that challenging the city's consent decree with the state. The decision removes one hurdle from the path of a badly needed bond transaction for the city.

The head of the non profit health care group at Standard & Poor's says the full impact of the federal reform law won't be known until after it is implemented in 2014.

Moody's Investors Service upgraded to A2 from A3 its rating on Blanchard Valley Regional Health Center, located in Findlay, Ohio.

Michigan Gov. Rick Snyder last week signed into law legislation that will set aside a portion of sales tax revenues for the cash-strapped transportation fund.

Detroit faces two new lawsuits challenging the city's recent consent decree with the state about its finances.

Moody's Revised its Outlook to Stable from Negative on A1-rated Indianapolis Airport Authority, citing strong financial performance.

The wave of mergers sweeping across the non profit health care sector the past two years is a positive trend for hospitals as well as for investors who like to buy hospital bonds, Fitch Ratings said in a new comment.