Michigan

Local Michigan issuers continued to trickle back into the market Tuesday, with the triple-A rated city of Troy paying anywhere from 50 to 100 basis points more than similarly rated debt.

The financial strains facing Michigan's school districts continued to mount in fiscal 2013, with a near-record number reporting deficits, inspiring new state initiatives to get a grip on the problem.

After more than a month of nothing, deals are starting to flow again for Michigan local issuers, as Genesee County tested the market Monday with $35 million of GO debt.

Warren Buffett's bond insurance firm Berkshire Hathaway Assurance Corp. made its first appearance in the Detroit bankruptcy as the city filed objections to creditors' requests.

Battle Creek, Mich., sold the first sizable deal featuring local Michigan general obligation bonds since Detroit's historic bankruptcy.

Flint, Mich. will get its third emergency manager within one year after current EM Michael Brown announced Wednesday he is stepping down.

Bond insurer Syncora Guarantee, Inc. will appeal a recent decision by federal Judge Steven Rhodes in Detroit’s bankruptcy, marking the first appeal in the case.

Michigan Gov. Rick Snyder Tuesday dropped his fight against the city's unions and agreed to be deposed in Detroit’s historic Chapter 9 bankruptcy case.

Detroit defended its right to enter into bankruptcy in a 135-page court paper that tackles creditors' objections and offers a few glimpses into arguments it may use in its Chapter 9 case.

Wayne County has abandoned work on a $300 million bond-funded new jail in downtown Detroit and formed a task force to study alternatives for the site and the project’s cost overruns.

The emergency manager of Hamtramck, a small town surrounded entirely by Detroit, began implementing her financial plan to revive the city by firing a trio of top city employees and cutting the City Council’s pay.

Oakland County’s delay on its $350 million bond deal originally set for next week has nothing to do with Detroit, a top executive said Wednesday.

Michigan Wednesday launched a financial investigation into two more local governments in the metro Detroit region.

Detroit emergency manager Kevyn Orr and the bankrupt city's investment banker said in depositions that the need to access casino revenue drove tense negotiations with interest-rate swap counterparties.

Oakland County, Mich., may delay a $350 million bond sale set for next week.

Bankruptcy Judge Steven Rhodes granted Michigan's request for an expedited hearing on a motion to quash a request to depose Gov. Rick Snyder.

Detroit sent out its request for proposals soliciting debtor-in-possession financing to a targeted group of investors late last week but they will remain confidential.

Lawyers for bankrupt Detroit and creditors opposed to its proposed interest-rate swap settlement met with a mediator Thursday as the city prepared to raise debtor-in-possession financing.

Judge Steven Rhodes, the federal judge overseeing Detroit’s bankruptcy case, ruled this morning that Detroit can continue to access crucial casino revenues while a dispute over a settlement on the city’s interest rate swaps is settled.

The Michigan Senate late Tuesday narrowly approved an expansion of the Medicaid program under the new federal health care law, which could bolster Detroit's bankruptcy reorganization plan.