Michigan

Michigan's Great Lakes Water Authority went to market in June with roughly a billion dollars of bonds, part of a complex transaction that included a tender.

A year after raising its ratings to investment grade, Moody's Ratings upgraded Detroit's issuer and general obligation bond ratings again, to Baa1.

Deals from two small Michigan cities show how bond-funded improvements are used to keep up with water infrastructure replacement needs.

May 6 brought disappointing results for two Midwest states with school bond referendums on ballots, as voters mostly rejected the issuances.

Closing is scheduled for White Lake Township, Michigan's second try at a GO bond sale after the first was interrupted by the cybertheft of bond proceeds.

While the White Lake, Michigan, township hack is the best-known and publicly disclosed cyberattack, there have been others. Some issuers and firms are reluctant to share these experiences publicly.

SEC probe relating to a cyberattack on a Michigan township's bond sale could involve looking into whether investors are getting an accurate picture of the issuer's credit risk, a former SEC enforcement attorney said.

White Lake Township, Michigan, is facing legal action on two fronts: one of them related to the hack of its bond deal closing last year, the other a civil suit. 

Charter schools drove the worst January ever for impairments since Municipal Market Analytics began tracking default trends, the firm said in a Feb. 5 report.

Detroit Public Schools Community District has taken the state Treasury Department to court over its ability to use operating tax revenue to pay down bonds.