Nora Colomer

Additional spending being proposed for Flint, Detroit schools, and transportation could end up devouring the Michigan revenue growth expected in its fiscal 2017 budget, according to Moody's Investors Service.

Detroit City Mayor Mike Duggan warned that the city faces significant underfunding of its pension liabilities and hinted at a lawsuit against the team that led the city through its bankruptcy exit.

Michigan lawmakers on Tuesday approved a $30 million Flint relief bill that brings the total emergency funding dedicated by the state to the city’s water crisis to $70 million.

Wayne County, Michigan’s outlook is now stable, according to Moody’s Investors Service, which revised the outlook on its junk-level rating upward from negative.

Moody's Investors Service slashed Ohio-based Cardinal Local School District's rating down to junk grade following the district's default on a December 2015 bond payment.

North Dakota lost its Standard & Poor's triple-A rating because of the impact of oil price volatility on the state's economy.

Ohio plans to price $288 million of high-grade general obligation bonds next week.

Michigan based Hope Academy had $8.6 million of public school academy limited obligation revenue bonds downgraded into deeper junk territory by Fitch Ratings on Wednesday.

The Flint water contamination crisis and Detroit’s public school restructuring took center stage Wednesday as Michigan Gov. Rick Snyder unveiled his fiscal 2017 budget.

Cleveland expects $17 million in savings on its $151 million refunding issue for Cleveland Hopkins International Airport this week.

North Dakota will tap the state's the state's $572 million budget reserve to the tune of $497 million to help cover a $1 billion shortfall in revenue due to a drop in oil crude prices. The state also intends to implement across-the-board budget cuts.

Gov. Rick Snyder's restructuring plan for Detroit's public school district faces concern that fiscal help may come at the expense of other school districts.

Fiscally distressed Wayne County, Mich., expects $23 million in fiscal 2016 budget relief from cuts in retiree healthcare benefits that trimmed $850 million from its unfunded liabilities.

Hearings begin Thursday on Michigan legislation that paves the way for Gov. Rick Snyder’s restructuring plan for the debt-laden Detroit Public Schools.

Indiana’s Purdue University officials believe its newly minted second AAA rating will spell savings on its upcoming bond sale.