Caitlin Devitt

A struggling hospital in an affluent Detroit suburb has merged with Ascension Health, the largest non-profit health care system in the country.

The budget stalemate in Illinois matters less than how the state finally decides to deal with its pension problem, Moody’s says in a new report.

Expectations of nearly $1 billion in new revenue for rebounding Michigan would not be enough to offset shortfalls if the Legislature and Gov. Rick Snyder enact a plan to rely on the general fund to finance road repairs, warns a new report.

After downgrades from all four rating agencies since May, Chicago Public Schools got a fresh warning from Moody’s on Monday that its new budget could mean more negative ratings action.

The Detroit suburb of Allen Park wants bondholders to sell back at par $31 million of bonds floated for a now-failed film studio that the city blames for a long financial decline.

Detroit snagged investment-grade ratings from Moody's Investors Service on its senior-lien water and sewer debt for the first time since before the city filed for bankruptcy.