Nora Colomer

The city of Wayne, Michigan lost its investment grade rating amid struggles to erase red ink and faces further credit erosion as it veers toward state oversight.

Michigan needs to increase funding to adequately meet the state’s education needs, a new research report warns.

A $70 million injection of private capital from local philanthropists will boost Kalamazoo, Michigan, said Moody’s Investors Service.

Bonds issued for a P3 highway project in Indiana were downgraded to junk following construction delays and payment disputes among contractors.

The Southeast Michigan Regional Transit Authority failed to secure enough votes to put a 20-year transportation millage on the Nov. 8 ballot in a vote taken this week.

Hamilton County, Ohio, expects about $60 million in savings when it refunds sales tax bonds that helped finance two professional sports stadium.

Investor appetite for yield overcame any credit quality concerns buyers had as Detroit saw strong demand for its first post-bankruptcy general obligation/distributable state aid backed bond sale issue.

Detroit, already facing headwinds with its first post-bankruptcy general obligation/distributable state aid backed sale, could suffer some spill due to the state’s disruption of a similar security on some of Detroit Public Schools' bonds, one municipal market participant suggested.

Indiana closed out fiscal 2016 last month with a slight surplus despite the drain of low gas prices on revenue growth.

The authority that runs Detroit's main airport is on the hunt for a new leader following chief executive officer Thomas Naughton's decision to retire this fall.

Pittsburgh-based PNC Capital Markets has hired veteran Ohio-based banker Mark Fisher to lead its efforts there as it eyes further expansion and amplifies it pitch on bank products available to municipal clients.

Detroit announced plans to pay for higher contributions to its public safety pension fund by hiring fewer firefighters.

The Michigan State Building Authority is joining the parade of borrowers capitalizing on the market's attractive rates with plans to sell about $660 million of mostly refunding bonds next week.

South Dakota can now claim three top-level credit ratings after Moody’s Investors Service assigned an initial issuer credit rating of Aaa.

Cincinnati, Ohio-based Dinsmore & Shohl LLP has hired Michael Jackson to expand its public finance practice in Philadelphia, Pennsylvania.

Congressional action on transportation helped spur an upgrade for some outstanding Michigan Garvee bonds ahead of a $613 million refunding deal.

With its books restored to order, Wayne County, Mich., says it’s ready to return to the market with $200 million of borrowing to complete its unfinished jail project in downtown Detroit.

Benton Harbor, Michigan has won release from state oversight.

Uncertainty over how bondholders will be repaid once Detroit Public Schools is split in two under the district recently approved restructuring plan has put the district’s bond ratings at risk of slipping into junk territory.

Illinois lawmakers passed a six-month stopgap spending plan Thursday that will ensure schools open this fall and state services continue through the end of the year. The plan now awaits approval from Gov. Bruce Rauner.