Caitlin Devitt

Moody's Investors Service downgraded the issuer credit rating of the metro Detroit suburb of Mount Clemens by two notches to A2 from Aa3, two weeks before voters consider a property tax increase.

Hospital bankruptcies are on pace to set a record in 2014 and investors should get more involved with restructuring efforts, a firm specializing the field says.

The Detroit Institute of Arts has raised 80% of the $100 million it pledged to contribute to Detroit's underfunded pension debt.

Indiana Gov. Mike Pence has ordered state agencies to reserve 4.5% of their 2015 appropriations and public universities to hold back 2% despite recent news that the state has $2 billion in reserves.

Omaha Public Power District is bringing $110 million of subordinate-lien refunding bonds to market this week, marking the district's first deal since its nuclear plant has come back online.

One year after Detroit filed for bankruptcy, muni experts said the city's approach should set a precedent for how not to manage a distressed workout, and that they've learned to throw out many traditional assumptions and beliefs about the treatment of bond debt in Chapter 9.

The 6th Circuit Court of Appeals set an accelerated two-week schedule to consider bond insurer Syncora Guarantee's appeal of a key decision in Detroit's bankruptcy case.

Indiana should impose a new tax to raise revenue for transportation infrastructure, a blue ribbon panel has recommended to Gov. Mike Pence.

With its emergency manager warning of a possible bankruptcy, the city of Flint is hoping a temporary court ruling allowing it to cut retiree health care benefits will bring some relief to its 2015 budget.

Detroit's settlement with its limited-tax general obligation bondholders would repay them 34 cents on the dollar, the lowest recovery rate reached in a deal so far in the case.

A new assessment of Detroit's art collection puts its price tag at up to $4.6 billion, significantly higher than the city's first valuation and more in line with bond insurers' estimates.

States that have opted not to expand Medicaid under the new federal health care law could lose out on $66 billion in economic activity over the next three years and $88 billion in direct federal aid through 2016, the White House Council of Economic Advisors says in new report.

All creditors in the Detroit bankruptcy case must vote on the city's debt adjustment plan by Friday, a key vote that will set the stage for an August trial and the city's effort to exit Chapter 9 by early fall.

Continuing its quest for documents tied to the sale of $1.4 billion of certificates of participation, Detroit Friday said it would subpoena one of the banks as well as public finance attorneys involved with the 2005 transaction.

Michigan Gov. Rick Snyder July 3 appointed a turnaround consultant to take control of a distressed Detroit suburb after city officials rejected a consent agreement with the state.

A federal appeals court judge advanced bond insurer Syncora Guarantee Inc.'s appeal of a key decision about casino tax revenue in the Detroit bankruptcy case, ordering a lower court to review the challenge by July 14.

At least two bond insurers in the Detroit bankruptcy case will now enjoy the exclusive right to vote on the city's bankruptcy exit plan in place of individual bondholders.

Detroit alerted the federal bankruptcy court Wednesday of plans to issue a subpoena to the Bond Buyer for information about the city's controversial $1.4 billion pension certificates of participation sale, and a bond insurer subpoenaed a trio of public finance professionals for depositions in their case.

Syncora Guarantee Inc. is challenging bankrupt Detroit's April settlement with its unlimited-tax general obligation bondholders, saying it violates Michigan law.

The Indiana Finance Authority will sell $250 million of private activity bonds to finance a public-private partnership for a stretch of Interstate 69 that state officials say will be key to the state's future economic health.