Caitlin Devitt

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.

Fitch Ratings downgraded Michigan's largest county to BBB-plus from A-minus, warning that it will take years for it to overcome deficits amid a weak economy.

CHICAGO — Indiana got an unexpected $288 million budget boost after detecting a computer programming error that failed to transfer revenue to the state's general fund, Gov. Mitch Daniels announced Tuesday.

North Dakota public finance officials will halt all local general obligation bond deals conducted through the state starting Jan. 1 for at least the next six months as they await the outcome of a controversial measure to abolish property taxes.

The privatization of the Ohio Turnpike would likely be a positive for debt holders, Moody’s Investors Service said in a market comment this week.

Moody’s Investors Service last week dropped Taylor’s general obligation limited-tax rating three notches to Baa3 from A3.

Michigan Gov. Rick Snyder last week appointed a seven-member review team to examine Inkster’s finances after a preliminary review found evidence of fiscal stress.

Detroit, which is edging closer to a state takeover, could be on the hook for hundreds of millions in termination fees tied to its derivatives contracts on more than $2.5 billion of outstanding debt if the state appoints an emergency manager.

Detroit, which is edging closer to a state takeover, could be on the hook for hundreds of millions in termination fees tied to its derivatives contracts on more than $2.5 billion of outstanding debt if the state appoints an emergency manager.

The Michigan Senate Thursday approved legislation that would make Michigan the third state to issue bonds to repay federal loans for unemployment benefits.

Michigan Gov. Rick Snyder is expected to announce a review of Detroit's finances — the first step toward a possible state takeover.

CHICAGO — Blaming a bad housing market and the failure to reach an agreement with bondholders, an Ohio senior-living facility that missed its most recent debt-service payments filed for Chapter 11 protection last week.

CHICAGO — Michigan Gov. Rick Snyder Tuesday announced the appointment of an emergency financial manager for Flint, finalizing the state's takeover of the struggling city.

CHICAGO — Michigan Gov. Rick Snyder Tuesday announced the appointment of an emergency financial manager for Flint, finalizing the state's takeover of the struggling city.

Moody's Investors Service last week affirmed its Baa1 rating on Summa Health System in Ohio.

A group opposed to Michigan's new emergency financial manager law for fiscally stressed municipalities said it is closing in on its goal of gathering enough signatures to suspend the law until it is voted on next November.

CHICAGO - Ohio has picked KPMG LLP as lead advisor for a proposal to privatize the Ohio Turnpike.

Proponents of a measure to increase South Dakota’s sales tax to fund K-12 and Medicaid said they have gathered more than twice the required signatures to put it on next year’s ballot.

Moody’s Investors Service placed Cleveland-based MetroHealth System on watch list for potential downgrade due to a decline in financial performance through the first nine months of fiscal 2011. The credit is rated A2.

Athens-based Ohio University will spend $1 billion over the next six years for capital improvements, most of it financed with bonds.