Nora Colomer

Cincinnati Earns Upgrade Ahead of Sale

The Great Lakes Water Authority achieved $309 million in net cash flow savings on the refunding piece of in its inaugural $1.33 billion deal, the agency said Friday.

Michigan’s Wayne State University has struck a $1.4 billion, 40-year public-private partnership that will allow it bypass the capital markets to upgrade its housing stock and retire debt.

The city of Wayne, Mich. was dropped lower into junk territory by Moody's Investors Service as it remains on the brink of running out of money with no solution in hand to relieve its fiscal stress after the state declined to intervene.

The Indianapolis City-County Council approved a $1.1 billion budget for fiscal 2017 that includes a $200 million infrastructure plan that would be partially funded by future bonding.

Wayne County, Michigan says it’s made sufficient gains in balancing its books and is ready to exit a state consent agreement.

A Michigan-based senior housing developer and operator is borrowing $69.3 million of unrated tax exempt and taxable bonds to finance projects in Waterville, Ohio, and Chesterton, Ind.

A group of Detroit retirees may ask the full appellate court to consider its failed appeal aimed at restoring pension cuts imposed as part of Detroit’s Chapter 9 restructuring.

The Great Lakes Water Authority will make its market debut next week with $1.3 billion of new money and refunding bonds, boosted by two new rating upgrades.

Wayne County, Michigan’s rating is inching closer to investment grade, progress that should help with plans to borrow as much as $200 million to complete its stalled jail project in downtown Detroit.

The Michigan Finance Authority completed a private placement of $226.3 million of bonds Thursday to refund Detroit Public Schools paper set to lose its state aid backing Oct. 1.

Fort Wayne, Indiana based Parkview Health System’s improved operating performance earned it a one notch upgrade into the double-A category.

The Nebraska Farm Bureau says a community college’s $369 million bond question on the November ballot would lead to a massive property tax increase on farmers, business, and homeowners in southeast Nebraska.

After turning around its operating performance, the Kalamazoo, Mich.-based Bronson Healthcare Group received an upgrade of its credit outlook to stable as it prepares to refund $109 million of debt.

The Michigan Treasury has appointed Michigan State University local government expert Eric Scorsone as senior deputy state treasurer for finance.

The Michigan Finance Authority approved a plan to issue $235 million of debt to refund some Detroit Public Schools bonds before they lose their state aid backing on Oct. 1.

Developers of major “transformational” projects proposed in Michigan would be allowed to capture sales and income taxes related to the project as way to offset the costs of redevelopment under legislation that is headed to the state senate.

Ralston, Nebraska’s general obligation arena bonds were dropped seven notches to junk by S&P Global Ratings after the project has struggled to produce the revenue needed to repay the debt.

A lawsuit filed against the state of Michigan on behalf of 14 local municipalities this month seeks to correct what they contend is a miscalculation in state aid that has shortchanged them for two decades.

The unclear future of Detroit Public Schools state-aid backed bonds, plus governance and tax collection issues following the district's restructuring, prompted Moody's Investors Service to shift its outlook to "developing" from "negative."