Caitlin Devitt

The head of Wayne County, Mich., which is on track to run out of cash by next year, announced a series of cuts that mark the first phase of a larger restructuring aimed at staving off a state takeover.

Moody’s Investors Service downgraded the Chicago-area Forest Park Park District two notches to Baa1, assigning a negative outlook.

A coalition of reformers charged with making recommendations to Gov. Rick Snyder to overhaul the troubled Detroit school district wants the state to take over the district's general fund debt payments, which total $53 million a year.

Indiana lawmakers scrambled Monday to stop financial fallout from a controversial bill signed into law by Gov. Mike Pence last week.

A Detroit-based coalition is set to release Monday afternoon a series of recommendations that Michigan Gov. Rick Snyder will use to help guide a high-profile reform of the troubled Detroit school system.

Illinois Gov. Bruce Rauner said he was sign “as quickly as possible” legislation that fixes a $1.6 billion hole in the current budget with a one-time funding fix.

Officials building a long-stalled fertilizer plant in Indiana hope that the fifth time is a charm when it comes to having to remarket $1.2 billion of short-term notes before rolling it over into long-term debt.

Ohio next week will launch its first public-private partnership with the sale of $230 million of tax-exempt private activity bonds for a highway through the Appalachians.

Moody’s Investors Service hit Detroit Public Schools with another downgrade late Monday, warning that the troubled district faces major fiscal stress and a rising debt burden.

Michigan Gov. Rick Snyder is touring the state urging voters to approve a May referendum to raise the state sales tax to generate new money for roads, saying it’s key to the state’s continued rebound.

The Ohio State University wants a private firm to take over its energy system for 50 years in exchange for an upfront cash payment, marking another first for a public university.

Gary, Ind., a rare issuer and the state's most distressed city, is coming to market this week with $15.3 million of unrated, casino revenue-backed bonds.

Ohio Transportation officials have launched a $2.4 billion capital plan for 2015 that’s the second-largest in state history and features the state’s first public-private partnership.

The chief financial officer of Ohio State University, who helped craft the university's first-of-its-kind lease of its parking system, is leaving the university to take a job at the Australian company that is leasing the parking system.

Macomb County reduced the maturity down to 20 years from 25 years on $263 million of OPEB bonds it sold last week, a move it said saved the county $47 million in interest costs.

Michigan senators approved a bill giving investors in Detroit’s income tax-backed bonds both a statutory lien and an intercept aimed at snagging at least one investment-grade rating on the city’s first post-bankruptcy bond deal set for the spring.

Michigan Gov. Rick Snyder appointed utility executive Nick Khouri as state treasurer to replace Kevin Clinton, who is leaving to return to the private insurance sector.

The Greater Cleveland Regional Transit Authority is coming to market Tuesday with $51 million of transportation bonds backed by a countywide sales tax.

Hitting Wayne County, Mich. with its third downgrade in four weeks, Fitch Ratings warned that $200 million of bonds issued for a new downtown Detroit jail could be particularly vulnerable to default.

Detroit emerged from the largest municipal bankruptcy in the U.S. with stronger credit fundamentals but the city heads into the future facing major economic challenges, Moody's says in a new report.