Caitlin Devitt

The rise in high-deductible health plans could bring more pressure to bear on an already pressured non-profit health care sector, Fitch Ratings said.

Michigan Gov. Rick Snyder's proposed 2015 budget bodes well for the state's struggling local governments, Moody's Investors Service said Tuesday.

Detroit's Cobo Hall, the riverfront convention center that a few years ago struggled to survive, is now touting itself as a model of regional cooperation that the bankrupt city can replicate as it tries to rebuild itself after bankruptcy.

Detroit's attempt to invalidate $1.4 billion of pension certificates as part of its bankruptcy is unlikely to be copied by other certificate issuers, according to Moody's Investors Service.

Michigan Budget Director John Nixon is leaving the state.

Cincinnati Mayor John Cranley unveiled a plan for the municipal parking system that would keep the asset under city control as an alternative to a controversial proposal to lease it to the local port authority for an upfront cash payment.

Detroit is set to file a long-awaited plan to adjust its debt next week whether or not it has nailed down certain proposals, such as the lease of its water and sewer system.

Hoping to avoid a state takeover, Wayne County, Mich., the junk-rated county that is home to Detroit, Tuesday unveiled a deficit elimination plan that relies on selling its wastewater treatment system.

Michigan Gov. Rick Snyder appointed a team to review the finances of the struggling city of Lincoln Park, two weeks after declaring financial emergencies in two other Detroit-area cities.

Detroit wants to file a debt adjustment plan next week as the city and creditors meet for a fresh round of talks this week.

Detroit officially ended an interest-rate swap termination agreement with its counterparties Thursday, a move that the city says preserves its right to pursue legal action against the banks, but said talks with the banks continue.

Michigan officials agreed to step in to assist foundering negotiations between Detroit and neighboring counties over Detroit's water and sewer system considered key to the city's restructuring, Oakland County officials said.

Michigan Gov. Rick Snyder said it would be premature to assume that Detroit's bankruptcy will drive up borrowing costs across the state.

Michigan Gov. Rick Snyder unveiled a 2015 budget that would boost spending on troubled local governments and school districts, build up the state's rainy day fund and finance $200 million of tax breaks.

Fitch Ratings dropped Cleveland's airport to BBB-plus with a negative outlook amid United's recent announcement it would drop the airport as a hub, and city and state officials scrambled to respond to the news.

A partially bond funded plan to build a $650 million hockey arena and entertainment district near downtown Detroit advanced Tuesday when the city council agreed to transfer 39 acres of public land to the project.

Moody's Investors Service downgraded Williston, N.D. to Baa2 from A3, and assigned a negative outlook, warning that the city, in the heart of the state's historic oil boom, faces significant infrastructure needs.

Detroit, going to battle with its interest-rate swap counterparties, filed a lawsuit seeking to invalidate $1.4 billion of pension certificates that the swaps hedge, saying the borrowing was illegal from the start.

Detroit's bankruptcy plan circulated to creditors last week yields them greater recoveries to creditors than a first offer floated last year, but should still be seen as a rough draft that could change significantly.

Detroit has asked the bankruptcy court overseeing its Chapter 9 case to dissolve a committee representing unsecured creditors that the U.S. Trustee said is required under code.