Michigan

Allen Park, Mich.'s financial ills have eased enough to garner a five notch ratings boost, moving it two notches from winning back its investment grade status.

S&P Global Ratings said it has raised its long-term and underlying rating on the city of Allen Park, Mich.'s existing general obligation debt to BB from CCC-plus.

Flint, Mich. will receive nearly $100 million in state and federal funds to replace thousands of water service lines under a settlement approved by a federal judge Tuesday.

Syncora Guarantee Inc. is looking to partner with a developer to lead the overhaul of Detroit land it acquired as part of its bankruptcy settlement with the city in 2014.

Detroit’s plan to create a fund to address a pension hole left behind after its historic bankruptcy got a thumbs up from Moody’s Investors Service.

With its aid levels at stake, Detroit Public Schools Community District is planning a preemptive strike against state plans to shutter schools.

An infrastructure crisis that includes resolution of its jail construction project represent one of the bigger challenges Wayne County, Michigan must tackle to remain fiscally healthy, county executive Warren Evans said in his State of the County speech.

Detroit Mayor Mike Duggan announced a plan he says will help the city meet a 2024 balloon payment on its pension obligation.

In a change of course, a Detroit authority will issue new bonds to finance the $34 million cost of adapting the under-construction Little Caesars Arena to house the Detroit Pistons basketball team.

Moody's Investors Service said it has downgraded the city of Wayne, Mich.'s issuer rating to B1 from Ba3 and general obligation limited tax rating to B2 from B1.

The Republican-controlled Michigan House of Representative voted down legislation to roll back the state’s income tax legislation.

Detroit Mayor Mike Duggan says the city is on track to exit state fiscal oversight by 2018 after a third straight year of balancing its books.

The general obligation limited tax bonds of 32 local governments in Michigan were upgraded one notch on the back of a ratings methodology change by Moody’s Investors Service.

A plan to eliminate Michigan’s income tax is headed to the full state House of Representatives for a vote.

Flint and its utility customers are on the verge of losing water credits that offered more than $40 million in payment relief and help in covering city water payments at it recovered from it water contamination crisis.

Issuers in the Midwest sold $87.2 billion of municipal bonds in 2016, a 23.4% year-over-year increase that was the biggest of any region.

Michigan Gov. Rick Snyder presented a fiscal 2018 budget plan to tackle the state’s unfunded retiree obligations and bolster education funding while maintaining growth in the rainy day fund.

Wayne County Executive Warren Evans said he is keeping the county’s options open for a jail site after the backers behind a Major League Soccer expansion bid proposed a site swap.

Michigan Gov. Rick Snyder has formed a task force charged with recommending how to tackle local governments’ unfunded retirement obligations.

Threatened school closures in several Michigan school districts are a credit negative, according to Moody’s Investors Service.