Caitlin Devitt

Fitch Ratings knocked Detroit's Downtown Development Authority – planning a $650 million hockey arena and entertainment complex -- into junk-ratings territory.

Non-profit hospitals in states that have opted not to expand their Medicaid programs under the new federal health care law will face financial problems and rating pressure next year, Fitch Ratings warned.

Detroit’s bankruptcy eligibility trial will continue into next week after five days of testimony in which Michigan Gov. Rick Snyder and Detroit emergency manager Kevyn Orr sparred with creditor attorneys.

In historic testimony in Detroit's bankruptcy case, Michigan Gov. Rick Snyder said the state did not offer any aid to the ailing city to avoid pension cuts.

A Chicago fiscal watchdog group warned that Cook County's growing pension obligations and budget deficits could pose “enormous” fiscal problems in the future.

Detroit emergency manager Kevyn Orr made his first court appearance late Friday to testify in the city’s Chapter 9 bankruptcy trial.

The airport in Gary, Ind. tapped a team that includes Guggenheim Securities and Loop Capital to advance a plan to privatize the Chicago-area facility.

Bloomfield Township, Mich. will sell $80 million of pension obligation bonds, in the first public offering of pension debt under a Michigan law allowing municipalities to borrow to cover unfunded retirement liabilities.

Bond insurers fought Detroit's restructuring proposal ahead of its bankruptcy filing in part because they did not want to set a precedent for other cities, said the city's investment banker Ken Buckfire.

Michigan Gov. Rick Snyder will take the stand as soon as Monday to testify in Detroit's historic bankruptcy case.

Detroit enters the most critical stage of its historic bankruptcy case Wednesday as the trial begins to determine the city's eligibility to enter into Chapter 9 protection.

Indianapolis-based City Securities Corp. is expanding its footprint outside the Hoosier State for the first time by hiring four new professionals who will operate a new municipal housing division.

An Ohio legislative board Monday approved an expansion of the state's Medicaid program under the new federal health care law, marking a victory for Gov. John Kasich.

Indiana Monday issued a request for qualifications for firms interested in building a new toll collection system for the Louisville-Southern Indiana Ohio River Bridges Project.

The Detroit City Council Monday unanimously rejected a debtor in possession loan, a move that doesn’t kill the deal but does delay it.

After nearly two years of analysis, Indiana University has dropped its effort to privatize its parking system.

The Detroit City Council is expected to vote Friday or Monday on a $350 million debtor-in-possession financing the city wants to use to pay off its interest-rate swaps.

Detroit's move to secure debtor-in-possession financing marks a first for Chapter 9, one that, if successful, could pave the way for other bankrupt or cash-strapped cities, municipal bond experts said.

Gov. Rick Snyder Tuesday tapped former insurance executive R. Kevin Clinton as Michigan treasurer, a job that includes oversight of financially troubled communities such as Detroit.

Indianapolis will get a $1 billion new budget that wipes out a $15 million shortfall using proceeds from the sale of its utility systems.