Michigan

Nearly four dozen Michigan school districts have suffered credit erosion this year and the trend shows no signs of waning, Moody's Investors Service said in a report.

The University of Michigan heads into the market this week with $312 million of high-grade revenue paper to fund ongoing capital projects and refund debt.

With a fresh upgrade in hand and the prospects of more to come, Detroit's water and sewer department is selling its final deal before handing its more than $5 billion of debt over to the Great Lakes Water Authority.

Standard & Poor’s dropped its threat to lower charter school -- Detroit Community Schools’ -- already speculative grade rating after receiving sufficient financial information to hold the rating steady at B-minus.

Detroit-based Henry Ford Health System will acquire Allegiance Health, a union that offers benefits for both in what marks the latest in an ongoing wave of healthcare consolidations.

The fiscally stressed Detroit Public Schools’ latest financial results offer a mixed bag as its general fund deficit grew but at a slower pace than expected.

Michigan’s recent adoption of a $1.2 billion road funding package was labeled a positive credit factor for the state’s transportation revenue bonds by Moody’s Investors Service.

Allen Park, Mich. received a positive review from Standard & Poor's for its advancing efforts to shed some its troublesome $26.3 million of debt issued for a failed film studio, with an upgrade for the still speculative-grade credit.

Moody's Investors Service had more upgrades than downgrades in the third quarter of 2015, and the upgrades also affected a larger dollar amount of debt than its downgrades.

Hawkins Delafield & Wood LLP is opening a new office in Ann Arbor, Mich., the firm announced Thursday.

Voters across the Midwest elected new leaders, embraced the borrowing pleas of some school districts while nixing others, and rejected a controversial marijuana initiative in one state.

Michigan Gov. Rick Snyder said he will sign a $1.2 billion road funding package that cleared the legislature late Tuesday after months of fits and starts during ongoing negotiations.

The proposed legislation doesn’t radically alter Michigan law for the benefit of bondholders.

The Michigan Senate will begin reviewing the $1.2 billion transportation plan passed by the House the week of Oct. 26.

Allen Park, Mich., has delayed the settlement date for its purchase of $11.2 million of the $26.3 million of bonds offered to tender from a troubled issue for a failed movie studio project.

Local credits in Michigan will be hurt if a proposal to give their unlimited tax general obligation bonds a statutory first lien falls through, Fitch Ratings said in a special report.

Michigan Gov. Rick Snyder says his $715 million restructuring plan for Detroit’s school system is less expensive for the state than doing nothing.

Michigan will send $6 million Flint’s way to help cover the costs of reconnecting to Detroit’s water and sewer system after a year of struggling with polluted water from the Flint River.

The Holland School District’s sharp and unexpected enrollment decline illustrates the widespread credit challenges many Michigan districts face, says Moody’s Investors Service.

Michigan Gov. Rick Snyder has doubts about the need for a bill that would attach a statutory lien and trust to local unlimited-tax general obligation bonds.