Caitlin Devitt

Michigan lawmakers will spend three days this week debating an 11-bill legislation package outlining the state's role in Detroit's bankruptcy, with emergency manager Kevyn Orr testifying on Tuesday.

Detroit's effort to repay its limited-tax general obligation bondholders only about 10 cents on the dollar would send shock waves through the muni industry and stifle economic growth, SIFMA argued in a court brief filed Monday.

For the third time since 2011, Ohio will be forced to dip into reserves to cover debt-service payments on its Buckeye tobacco securitization bonds.

Moody's said it may downgrade Henry Ford Health, one of Michigan's largest providers, due to continued operating performance declines and other challenges.

Michigan lawmakers unveiled a package of 11 bills Thursday aimed at hastening Detroit's exit from bankruptcy and managing the city's post-Chapter 9 recovery.

Michigan would create a board to oversee Detroit for up to 20 years and contribute $195 million to the troubled city's pensions in a series of bills expected to be unveiled late Thursday.

The state of Michigan has conditionally approved Wayne County's deficit elimination plan, easing immediate concerns of a state takeover, county officials said Wednesday.

Ohio will issue nearly $1.9 billion in general obligation bonds over the next 10 years after voters approved the request in a Tuesday primary that saw the majority of borrowings in Ohio and Michigan approved by voters.

Michigan lawmakers Tuesday created a special committee to deal with Detroit's bankruptcy and recovery ahead of legislation outlining a state contribution that could be unveiled as soon as Thursday.

Indiana-based Sycamore Advisors has hired Chicago City Colleges CFO Melanie Shaker to open a new Chicago office and expand into the Midwest's largest market.

Bankrupt Detroit Monday filed a new plan to adjust its debt that reflects recent settlement with key creditors, though deals with some bondholders remain elusive.

A federal judge Wednesday heard arguments from Michigan attorneys defending the state's controversial emergency management law from a lawsuit that calls it unconstitutional and illegal.

An issuer's credit health may become more important to the evaluation of special revenue bonds if Detroit impairs its water and sewer debt, Fitch Ratings said in a detailed look at how it may revise criteria after the largest municipal bankruptcy in the U.S.

Michigan Treasurer Kevin Clinton is concerned about Wayne County's ability to implement a deficit elimination plan, setting up a possible state takeover of the junk-rated county that is home of Detroit.

The banks that hold $1.4 billion of Detroit pension certificates have appealed the bankruptcy court's recent approval of a settlement with the counterparties that hold interest-rate swaps hedging the certificates.

Gary, Ind. is set to enter the market this week with its first bond sale in nearly a decade, and at the same time is advancing a plan for a second borrowing.

A Michigan board Monday approved two emergency loans to help cover payroll for a pair of distressed local school districts.

With two new settlements in hand, Detroit's attorneys at a hearing Monday touted the city's recent progress, with the judge calling the series of deals unprecedented in Chapter 9 history.

Settlements are coming quickly now in the Detroit bankruptcy case, as the city Monday announced a deal with a coalition of unions over collective bargaining agreements.

The federal judge overseeing Detroit's bankruptcy will consider final approval of a key bankruptcy document Monday that includes a fresh settlement reached with retirees late Friday.