Caitlin Devitt

The Michigan Treasurer and Detroit officials warned Detroit City Council members that their rejection of a water and sewer rate increase could spark additional state oversight.

Months after the original private owner of the publicly owned toll road went bankrupt, the new owner, Australian fund manager fund IFM Investors, is set to complete the financing of its takeover bid next week.

After years of political stalemate, Michigan lawmakers appear close to a deal to tackle the state's aging roads and bridges with legislation that relies heavily on general fund dollars.

Standard & Poor's, in a comment, said it is not taking action on Illinois' bond rating but is keeping a close eye on stalemated budget negotiations.

Six months after an Indiana school district defaulted on bond payments, Standard & Poor's affirmed its A rating on the bonds and removed them from negative CreditWatch.

Michigan Gov. Rick Snyder Thursday appointed a review team to delve into Wayne County’s finances, a day after a state board found the county to be in a probable state of fiscal stress.

Cook County, Ill. President Toni Preckwinkle said she plans to fast track her proposal to raise the sales tax by one percent by calling for a vote this month on the controversial proposal.

A Michigan emergency board Wednesday found that the state’s most populous county faces probable financial stress, a finding that is the first step toward a partial or state takeover.

Issuers need to disclose any and all bank loans so that investors and ratings analysts have a clear picture of the $60 billion market, panelists said at a Bond Buyer event in Chicago.

Issuers from Illinois, Wisconsin and Michigan compared notes on market challenges at the Bond Buyer's Midwest conference; Illinois credits face the toughest sledding.