Caitlin Devitt

The city of Holland, in western Michigan, is gearing up for a $160 million bond sale to raise funds for a new natural gas power plant, its largest borrowing ever.

Work is set to begin this summer on a controversial $3.3 billion bridge spanning the Detroit River despite a lack of commitment of expected funds in President Barack Obama's budget.

U.S. Bankruptcy Judge Steven Rhodes pushed back by one month a trial date on the city's plan of debt adjustment after bond insurers and other creditors asked for more time to respond to the controversial plan.

Detroit in a court filing Thursday said it has reached agreement with Barclays Inc. for a $120 million debtor-in-possession financing.

Detroit Wednesday asked the bankruptcy court to set a March 20 date for a hearing on its latest settlement with its interest-rate swap counterparties, calling it key to the city's overall plan of debt adjustment.

Detroit has reached a new settlement with its interest-rate swap counterparties that could significantly boost its efforts to pursue a cramdown plan of adjustment if necessary.

Detroit is treating the bonds issued by the Downtown Development Authority as secured, though the DDA itself is expected to take a 80% haircut on an outstanding loan, Fitch Ratings noted in a comment.

Indiana tapped a shortlist of four private teams to compete to work on the state's largest public-private partnership, a 47-mile toll highway linking the state to Illinois.

Detroit said creditors should have until June 9 to review and vote on the controversial debt plan it filed last week in bankruptcy court.

All of Detroit's major creditors, including bond insurers, Friday asked the federal judge overseeing Detroit's bankruptcy case to delay the fast-track schedule by at least a month or more.

Moody's downgraded Omaha's convention hotel to A1, warning that the city may be forced to step in to cover rising debt payments.

The federal judge overseeing Detroit's bankruptcy case denied a request from major creditors, led by bond insurers, to slow down the city's fast-track schedule for approval of key bankruptcy documents.

Holders of Detroit's general obligation bonds are among the biggest losers in the city's debt plan, and that's prompting some muni market participants to call for a fresh look at how GOs are viewed.

The judge overseeing Detroit's bankruptcy case released a schedule Monday that sets hearings through June to consider the city's effort to shed its debts and move out of Chapter 9.

Detroit is being cautious about its revenue projections — and its ability to enter the capital markets — over the next decade, according to documents filed in bankruptcy court.

The bond insurers that wrap a chunk of Detroit's unsecured debt blasted the city's debt adjustment plan filed in bankruptcy court Friday, joining a chorus of criticisms from the municipal bond market.

Detroit's pension funds can file a direct appeal of the federal bankruptcy court's decision that the city is eligible for Chapter 9, a process that will run parallel to the city's Chapter 9 case.

Detroit plans to file its long-awaited debt adjustment plan Friday.

The Michigan Senate was poised Thursday to approve a plan to give local governments $100 million to help with road repairs needed after the long winter.

The federal bankruptcy judge overseeing Detroit's Chapter 9 case heard arguments Wednesday from bond insurers challenging the city's effort to treat its unlimited-tax general obligation bonds as unsecured.