Caitlin Devitt

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.

An Australian fund manager’s $5.72 billion bid for the 75-year lease of the Indiana Toll Road bodes well for the P3 sector and suggests rising interest among pensions in investing in American infrastructure.

An Australian company is set to pay $5.7 billion for the 75-year lease of the Indiana Toll Road from the bankrupt company that bought it for $3.8 billion in 2006.

The Missouri Joint Municipal Electric Utility Commission is selling $158 million of power refunding bonds tied to the controversial Prairie State coal plant, which recently won a round of fresh praise from ratings analysts.

The head of Wayne County, home to Detroit, has ordered a spending freeze across the government as the county tries to stabilize its credit deterioration and ward off a state takeover.

Members of a banking committee approved a Nebraska bill that would favor bondholders over pensioners in the event of a bankruptcy, sending the measure to the floor of the Legislature.

The recent default by an Indiana school district reveals how a state intercept enhancement program does not necessarily reduce the chance of default, Moody's says in a new comment.

Hutchinson, Shockey, Erley & Co. has hired longtime Chicago public finance banker Doug DeAngelis from Fifth Third Securities to act as national public finance director and re-open its Chicago public finance office.

University Hospitals, one of northeast Ohio's largest providers, is in talks to acquire stand-alone hospital Samaritan Regional Health.

A bill designed to ease Detroit's first appearance in the public debt market since its bankruptcy sailed through a Michigan legislative committee and could come before the Senate next week.

Officials from Nebraska’s largest cities urged lawmakers not to put “Goldman Sachs ahead of the common citizen” by advancing a bill that would favor bondholders over pensioners in the event of a bankruptcy.

Two northwest Indiana counties will nail down the final details of their tax-exempt bond-financed bid for the bankrupt Indiana Toll Road over the next two weeks.

Ohio Gov. John Kasich is pushing lawmakers to continue to chop away at the state's income tax rate, offsetting the loss with an increase in so-called consumption taxes.

Michigan lawmakers have sent Gov. Rick Snyder legislation that patches an estimated $420 million current-year shortfall coming from business tax credits.

A state bill enabling Indianapolis to borrow $84 million for a new soccer stadium in downtown Indianapolis has sparked a debate that echoes the national debate over sports facility financing.

Macomb County, which borders Detroit, is expected to come to market next week with $264 million of retiree health care bonds to pay off all of the outstanding OPEB obligation.