Caitlin Devitt

The Wayne County Airport Authority, which runs the Detroit Metropolitan Airport, said it achieved $51.7 million in net present-value savings in a recent refunding.

Moody’s Investors Service Monday dropped Clark County’s unlimited-tax debt to A1 from Aa3 due to a weakened fiscal position and limited cash reserve.

Public finance attorney Melina Kennedy last Friday left the law firm Baker & Daniels LLP, where she had practiced for three years, to launch her campaign for mayor of Indianapolis.

CHICAGO — Moody’s Investors Service last week cut its rating one notch to A2 and assigned a negative outlook to nearly $1 billion of Indianapolis water bonds.

CHICAGO — Illinois lawmakers return to work Monday to wrap up a lame-duck session that could see votes on a huge borrowing proposal, an income tax increase, and a casino expansion plan that would be the largest in the state's history.

Indiana cities would be allowed to file for Chapter 9 bankruptcy protection under a bill touted by Republican Gov. Mitch Daniels.

Michigan will allow local governments struggling with debt to refinance it at a net present-value loss under a new law passed by legislators and signed by outgoing Gov. Jennifer Granholm last week.

A Wayne County Circuit Court judge will rule in January on the latest legal wrangle that is part of a larger, years-long dispute over dueling plans for a new bridge serving the busy trade route between Detroit and Canada.

The Lansing Board of Water and Light, which provides electric service to 97,000 customers in Lansing, Lansing Township, and Delta Township, plans to issue about $250 million of tax-exempt bonds to finance construction of a new $182 million electric and steam-generating plant.

Standard & Poor's raised its long-term and underlying ratings on Indiana University to AA-plus from AA.

A state regulatory commission will hold a public hearing next week on Indianapolis' plan to sell its water and sewer systems to a nonprofit utility.

Detroit has filed its annual audit on time for the first time in five years. The 237-page financial report, filed Dec. 21, warns that the city faced a total deficit of $1.6 billion as of June 30, the end of fiscal 2010.

Moody's Investors Service cut its rating on the fiscally troubled city of Mansfield by two notches to A3 from A1 and placed the credit on review for a further downgrade. The move affects $12.7 million of general obligation debt.

Moody's Investors Service last week placed its A1 rating on the village of Maywood on review for possible downgrade, a move analysts said was prompted by a lack of sufficient information about finances and operations.

CHICAGO — Triple-A rated Indiana, which was hit harder and earlier than many states by the national recession, will likely start to enjoy a revenue rebound the next three years, budget officials said this week.

The Nebraska Investment Finance Authority Thursday will price $196 million of fixed-rate bonds, followed in two weeks by $478 million of variable-rate debt, in a deal aimed at helping the authority better manage its swap risk.

Moody's Investors Service downgraded to A1 from Aa3 Canton's general obligation limited-tax debt.

The Columbus City Council last week approved $36 million of bonds to finance the renovation and expansion of a new police headquarters.

Cuyahoga County's first executive, who takes office in January as part of the county's shift to an executive-style government, said last week he hopes to launch a regional service-sharing agreement for the county's local governments.

Detroit Mayor Dave Bing said the city early next year will begin offering residents "non-financial" incentives to relocate to certain areas under a plan to shrink its boundaries.