Caitlin Devitt

Bond insurer Syncora Guarantee Inc.'s settlement with Detroit was the focus of much of the testimony Friday during the federal trial on the city's bankruptcy exit plan.

The transfer of the Detroit Water and Sewer Department into a new regional authority advanced last week when the Wayne County board of commissioners approved the deal.

The bankruptcy of the private operator who runs the Indiana Toll Road is not expected to affect the triple-A rated state’s credit, Moody's Investors Service said Friday.

Detroit emergency manager Kevyn Orr on Wednesday offered a glimpse into the city's high-stakes negotiations — and subsequent settlements — with bondholders during the course of its historic bankruptcy.

Detroit's attorneys called a $1.5 billion 2005 certificates of participation financing an "insider deal" that benefited banks and helped doom the struggling city during a federal hearing on the disputed debt issuance.

A post-bankrupt Detroit will not only be a "normal borrower" within a year, but will be stronger than many credits in the muni market, the city's investment banker testified in federal court Tuesday.

Bond insurer Financial Guaranty Insurance Co., the last major holdout creditor in Detroit's bankruptcy, is reportedly nearing a settlement with the city that includes a mix of cash and city assets.

The judge overseeing a retiree lawsuit challenging the city of Pontiac's effort to cut retiree health care benefits has ordered the parties into in mediation with one of the mediators of the Detroit bankruptcy case, while the city has hired Detroit's top restructuring firm to analyze its options for paying off the debt.

US Bankruptcy Judge Steven Rhodes, who is overseeing Detroit's bankruptcy, ruled in favor of the city Monday when he dismissed a restraining order blocking the city's ability to shut off water to nonpaying customers.

Detroit Friday gained Michigan's final approval for a plan to issue $1.1 billion of bonds for a bankruptcy exit financing and to raise money to pay off several creditors.

Ohio has launched what officials say is a first-of-its-kind program that creates a new state-backed credit for local government note issuers.

Detroit officials regained control of most government functions, while remaining under state-controlled emergency management, after the city council late Thursday adopted a resolution that keeps Kevyn Orr on as manager with reduced powers until the bankruptcy is over.

A day after Michigan gave a $2.6 million loan to the city of Allen Park, Gov. Rick Snyder declared that the Detroit suburb's financial emergency is resolved, allowing the city's emergency manager, Joyce Parker, to formally step aside.

A Michigan board Wednesday voted to approve two emergency loans to cash-strapped Detroit suburbs, which are under state control, that will be used for pension payments.

Detroit officials could announce the future of emergency manager Kevyn Orr's role in the bankrupt city after his term ends Sept. 27. Some city council members reportedly favor a limited role to oversee the final weeks of the bankruptcy.

Bond insurer Financial Guaranty Insurance Co., standing alone as the last major creditor holding out in the Detroit bankruptcy, challenged the city's recent settlement with fellow insurer Syncora Guarantee Inc.

Indiana officials assured Hoosiers that the bankruptcy of the private operator of the Indiana Toll Road would not hurt the state, but one analyst warned that "aggressive" toll rates in the original lease could spell long-term problems.

The Detroit City Council Friday approved a new regional water authority to take over the bulk of the Detroit Water and Sewer Department and also gave the green light to the city's bankruptcy settlement with bond insurer Syncora Guarantee Inc.

Pension reform enacted in 2013 has helped Ohio offset some of the stress tied to falling pension funding ratios, according to Moody's Investors Service.

Any sale of the art in the Detroit Institute of Arts would make the DIA "persona non grata in the museum world," a museum official and an art finance consultant testified at a trial on the city's bankruptcy exit plan.