Michigan

A Michigan board has authorized key pieces of the $617 million restructuring of the Detroit Public Schools amid lingering market questions over the fate of the district's bonds.

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

Negotiations continue on a proposed restructuring of $190 million of debt Lombard, Illinois issued for a hotel and conference center, amid a fresh default.

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.

In Michigan it's not just Detroit Public Schools that have fallen victim to the state's population decline. Statewide shrinking enrollment coupled with the expansion of charter schools has stretched state aid dollars and damaged school credit.

Detroit got the all clear from the city's Financial Review Commission to move ahead with a refunding of $660 million of general obligation debt.

Wayne County, Mich. took a big leap toward leaving junk territory, winning a four notch upgrade from Fitch Ratings 10 months after entering into a state consent agreement to turn around its finances.

Detroit’s proposed refunding of $660 million of general obligation debt now moves to the city’s fiscal oversight commission for review after winning City Council approval.

Flint, Michigan won’t walk away from its participation in the $285-million bond financed pipeline the Karegnondi Water Authority is building to deliver water to the city, a decision aided by state help and other concessions, Mayor Karen Weaver said Tuesday.

Allen Park, Michigan is readying a conversion of $16.7 million of debt from a short-term to a long-term structure in a move designed to help it climb back toward investment-grade territory after a disastrous venture into a movie studio.

Kevyn Orr, who put Detroit into bankruptcy, said Chapter 9 is an option Chicago should have on the table as it steers its way through financial problems.

Detroit plans to refund more than $600 million of general obligation bonds for savings in a deal that would mark its first GO sale since exiting its historic Chapter 9 in late 2014.

The University of Michigan will sell $300 million of high grade commercial paper next week to fund ongoing capital projects and refund debt.

Wayne County, Michigan's fiscal progress landed it a positive ratings credit outlook from S&P Global Services that brings it closer to returning to investment grade.

Michigan lawmakers finalized a controversial Detroit Public Schools restructuring package that is supposed to rescue the struggling system from insolvency.

In better financial health, Inkster, Mich., will earn its release from a state-mandated emergency consent agreement by the end of the month.

A compromise package to rescue Detroit Public Schools from looming insolvency at a cost of $617 million is headed to the state Senate.

Warren Evans, County Executive of Wayne County, Michigan, plans to use proceeds of the county’s wastewater treatment center on pension debt.