Michigan

Michigan Gov. Rick Snyder said he won't resign despite intensifying calls for him to step down.

Wayne County, Mich.’s books are back in the black for the first time in eight years and the county will soon ask to be released from a state consent agreement, county Executive Warren Evans says.

A bipartisan bill that would provide $220 million of federal funds to Flint, Mich., as well as any other community facing a drinking water emergency, appears to be is stalled in the Senate.

Michigan Gov. Rick Snyder officially placed retired bankruptcy judge Steven Rhodes in charge of the proposed Detroit Public Schools restructuring, giving him the new title of “transition manager.”

The retired judge who presided over the city of Detroit’s Chapter 9 bankruptcy case has been called upon to play a key role in the restructuring of Detroit Public Schools.

As two new bankers take their seat on Fifth Third Securities’ public finance team, the firm says it’s on the lookout to add to its ranks.

Additional spending being proposed for Flint, Detroit schools, and transportation could end up devouring the Michigan revenue growth expected in its fiscal 2017 budget, according to Moody's Investors Service.

Detroit City Mayor Mike Duggan warned that the city faces significant underfunding of its pension liabilities and hinted at a lawsuit against the team that led the city through its bankruptcy exit.

Michigan lawmakers on Tuesday approved a $30 million Flint relief bill that brings the total emergency funding dedicated by the state to the city’s water crisis to $70 million.

The Midwest lagged the national uptick in issuance last year as the conservative region did take advantage of low interest rates to refund debt but held tight the purse strings on new money borrowing.

Wayne County, Michigan’s outlook is now stable, according to Moody’s Investors Service, which revised the outlook on its junk-level rating upward from negative.

Michigan based Hope Academy had $8.6 million of public school academy limited obligation revenue bonds downgraded into deeper junk territory by Fitch Ratings on Wednesday.

The Flint water contamination crisis and Detroit’s public school restructuring took center stage Wednesday as Michigan Gov. Rick Snyder unveiled his fiscal 2017 budget.

Detroit’s old water and sewer debt is now investment-grade across the board for the first time since the city left bankruptcy.

Dallas-based Hilltop Securities has hired five investment bankers in the Midwest, including four from the Edward Jones team that quit doing negotiated deals in 2015.

Gov. Rick Snyder's restructuring plan for Detroit's public school district faces concern that fiscal help may come at the expense of other school districts.

Fiscally distressed Wayne County, Mich., expects $23 million in fiscal 2016 budget relief from cuts in retiree healthcare benefits that trimmed $850 million from its unfunded liabilities.

Hearings begin Thursday on Michigan legislation that paves the way for Gov. Rick Snyder’s restructuring plan for the debt-laden Detroit Public Schools.

Fiscal strains on Michigan could deepen as officials work to solve the Flint water contamination crisis, Standard & Poor’s said in a new report.

State and federal authorities advanced efforts Thursday to bring more fiscal help to Flint, Michigan as its copes with a water contamination crisis that market participants say will reach far and wide.