Caitlin Devitt

Taking the first step toward a possible state takeover, Michigan officials said they were launching an investigation into the "critical and alarming financial situation" of the Pontiac School District.

CHICAGO — As the nonprofit health care world keenly awaits the U.S. Supreme Court's ruling on the new federal health care law, credit analysts warn that a ruling striking down the individual mandate while maintaining the rest of the law would deliver a blow to the already-suffering sector.

Moody’s Investors Service downgraded to A3 from A2 Kettering Health Network’s $408 million of outstanding bonds.

The Ohio House Finance and Appropriation Committee this week will hold the first in a series of meetings on the state’s school funding formula.

Detroit Mayor Dave Bing Friday announced his two appointments to the nine-member financial review board that will oversee the city’s finances as part of the new consent decree with the state.

The Michigan House Local, Intergovernmental and Regional Affairs Committee last week began considering a bill to increase the amount a troubled municipality could borrow from the state to $20 million from $3 million.

CHICAGO — With an estimated $153 million surplus heading into fiscal 2013, top Republican lawmakers in Ohio are debating whether to spend it or save it.

Nebraska-based Central Plains Energy Project on Thursday priced $609 million of natural gas revenue bonds, marking one of the first fixed-rate deals in the prepaid gas market since the 2008 market collapse.

An effort to overturn Michigan’s controversial emergency management law failed Thursday when the four-member State Board of Canvassers deadlocked on whether to put the measure on the November ballot.

The historic consent decree between Detroit and Michigan offers a good start for the struggling city to address its fiscal problems, but implementing the agreement could be tough, Fitch Ratings said in a release Wednesday.

At least eight Midwestern health care providers are set to enter the market over the next two weeks, offering more than $1.3 billion of bonds. Leading the pack this week is a trio that represents the region's largest and most prestigious providers.

A battle over competing international bridge plans in Michigan that has roiled the Legislature for years could find resolution with a public vote later this year.

Michigan said it withheld its April 20 state aid payment to the Pontiac City School District, a move that Moody’s Investors Service warned presents a severe credit challenge to the already troubled system.

Indiana on Monday announced a list of four possible teams for the Ohio River Bridges project.

CHICAGO — The Federal Trade Commission's success so far in challenging two high-profile hospital mergers could signal fresh pressure on the sector, which is in the midst of a transforming consolidation trend.

Fitch Ratings this week upgraded the Oregon Health and Science University to A-plus from A as the school prepares to come to market next week with $268 million of revenue bonds.

CHICAGO — Detroit and Michigan officials today announced their first three appointments to a nine-member financial advisory board that will oversee Detroit as part of the new consent decree between the city and the state.

CHICAGO — The Michigan Senate Wednesday launched the first hearing on Gov. Rick Snyder's controversial measure to eliminate the state's personal property tax, a move that would likely bring more pain for already-struggling local governments.

CHICAGO — Indiana is bracing for the loss of up to $300 million of annual revenue as neighboring Ohio prepares to open four new high-profile casinos in major cities later this year.

Moody’s Investors Service last week upgraded Ohio’s Columbus Regional Airport Authority to A1 from A2 based on its stable financial and operating performance, among other factors.