Michigan

Detroit Public Schools says its prior administration’s mishandling of $30 million in federal funds won’t add to the fiscal burden the state is being asked to cover as part of a sweeping restructuring.

An uptick in patient volume and the November acquisition of Allegiance Health helped boost Detroit-based Henry Ford Health System’s credit rating outlook.

A Michigan House committee will take up the next round of discussions on the proposed Detroit Public Schools restructuring.

St. Louis-based Ascension Health Alliance is set to bring $1.9 billion of bonds to market in deals that fold into one package the system's new money needs, refunding opportunities and refinancing of inherited debt.

Michigan Attorney General Bill Schuette’s criminal probe of the Flint water crisis will include a review of the bond-financed pipeline the Karegnondi Water Authority is building to deliver water to the city.

St. Petersburg, Fla.-based Raymond James hired Brodie Killian, re-establishing an on-the-ground banking presence in Michigan to supplement its retail brokerage operations.

Michigan’s State Housing Development Authority single family revenue bonds could get a credit boost from new federal funding, Moody’s Investors Service said in a commentary.

Flint and Genesee County will remain in a state of emergency until Aug. 14 under a four month extension granted by Michigan lawmakers on Wednesday.

The long-stalled bipartisan energy modernization bill is expected to move forward in the Senate without an amendment that would have provided Flint, Mich. with $220 million to address its ongoing water crisis.

Michigan municipalities may need to more than double investment in water infrastructure to avoid crises like the disaster in Flint, a report commissioned by the Michigan Infrastructure & Transportation Association showed.

Michigan lawmakers return to work this week facing a new wrinkle in the proposed restructuring of the fiscally distressed Detroit Public Schools that stands to shape governance issues.

Wayne County, Mich. closed out fiscal 2015 with a $5.7 million surplus, reversing a prior trend of deficits that led to state oversight, according to its audited financial reports.

The time may be ripe to rethink Michigan’s emergency management law after the Flint and Detroit Public Schools crises exposed flaws that critics say highlight how the law can fail citizens and ultimately hurt the state’s credit.

A state oversight board is restoring some executive powers to Pontiac, Mich., moving the city closer to independence after seven years of state control.

The Detroit Public Schools’ recent emergency funding package signals the state government’s commitment to help solve the district’s severe financial distress, Moody’s Investors Service said.

Miller Canfield Plc has added three bond attorneys.

Allen Park, Mich.'s junk-rated debt's outlook was revised to positive by Standard & Poor's.

Michigan’s emergency manager system for financially distressed local governments came under fire from a task force the state governor appointed to investigate the Flint water contamination crisis.

Michigan lawmakers gave final approval to nearly $50 million of emergency cash needed to keep Detroit Public Schools open through the end of the current school year.

A massive restructuring of Detroit Public Schools to help the district avert bankruptcy cleared the Michigan Senate Tuesday.