Caitlin Devitt

The nation's largest nonprofit health care provider has extended its reach into the Chicago-area market with the acquisition of a suburban hospital chain.

The 10-member state-appointed financial review team that will begin digging into Detroit's finances next week is a diverse mix of high-profile state officials and local community leaders and businessmen.

Michigan-based Trinity Health, one of the nation's largest Catholic health care systems, will invest up to $150 million over the next five years as part of its acquisition of Mercy Health System if the deal is approved by an Illinois review board.

Michigan scored an interest rate of 0.24% on $3.32 billion of short-term, variable-rate bonds it priced Monday to pay off a mounting federal unemployment liability.

Moody’s Investors Service last week downgraded to A3 from A2 the Metrohealth System in Ohio and revised the outlook to negative from stable.

Standard & Poor’s dropped its rating on the Omaha Metropolitan Utility District to A from A-plus due to decreasing debt service coverage levels, the ratings agency said last week.

Detroit's $500 million senior-lien water bond sale last week saw spreads as high as 178 basis points over the triple-A benchmark scale on the longer maturity serial bonds.

The latest revenue projections show Indiana could end the current fiscal year with a $1.8 billion surplus, an amount that would trigger an automatic refund to taxpayers under a new law.

A task force last week proposed a local income tax rate increase in the Indianapolis region to finance a $1.3 billion rail and bus system over the next 10 years.

The future of Medicaid, which eats up nearly a quarter of states' budgets, will play a key role in governments' fiscal health over the next several years, Standard & Poor's said in a new report on the federal program.

Moody's Investors Service Friday downgraded Wayne County by two notches, the second time this month Michigan's largest county has been hit by a downgrade.

Days before the end of their 2011 session, Michigan lawmakers sent Gov. Rick Snyder legislation that would allow the state to issue up to $3.2 billion of bonds to cover its federal unemployment debt.

Detroit comes to market with nearly $500 million of senior-lien water revenue bonds in a deal that could face headwinds from the city's well-known fiscal woes along with the uncertainties being raised over the treatment of water and sewer debt in Jefferson County, Ala.'s bankruptcy.

Moody’s Investors Service affirmed its Baa1 rating on UC Health and revised the outlook to positive from stable, saying that the newly reorganized system has exhibited recent improvements in operations.

Michigan lawmakers are considering a move to reform a controversial law for fiscally stressed municipalities that was recently enacted, in order to head off an effort to repeal it.

Moody’s Investors Service last week downgraded to A2 from A1 its rating on Elkhart General Hospital, affecting $86.6 million of bonds.

Troy, Mich.-based based investment firm Leonard & Co. said this week it has named Gregory Baracy to the position of public finance director at Leonard Capital Markets, the firm’s investment banking division.

North Dakota has a new credit-enhancement program aimed at boosting ratings for small school districts, many of which need to borrow to accommodate growing enrollment due to the state's oil boom.

As expected, Ohio and Virginia were both forced to dip into reserve funds to cover their Dec. 1 interest payments on more than $7.2 billion of tobacco bonds.

Moody's Investors Service put Detroit's already junk-rated unlimited tax general obligation bonds and $4.6 billion of A1-rated water and sewer debt on review for possible downgrade.