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.

Former Ohio Deputy Treasurer and Chicago Comptroller Amer Ahmad was been extradited to the United States from Pakistan to serve a 15-year prison term for his role in a kickback scandal involving state investment business at the Ohio treasurer's office.

Moody's revised its outlook on the nonprofit health care sector to stable from negative, where it has been since 2008, citing significant gains in several key areas.

A federal judge this week sided with Ohio when he dismissed a lawsuit challenging the use of Ohio Turnpike toll revenue to fund projects that aren't on the turnpike itself.

Fitch Ratings said 2014 hospital medians showed surprisingly strong results, while capital spending in the sector hit the lowest point in six years.