Michigan

The latest top state court to weigh in on pension reforms ruled in Michigan last week that the state's pension reforms enacted in 2011 are constitutional, overturning two lower court decisions.

Moody’s upgraded Detroit by one notch Thursday, though leaving it deep in junk territory, as the city gears up for its first post-bankruptcy bond deal.

Michigan Gov. Rick Snyder Thursday affirmed his earlier declaration that Wayne County is in a financial emergency, giving the county board until next week to choose among four partial takeover options.

Michigan public finance veteran Dale Deis joins top-ranked PFM after nearly 30 years at Municipal Financial Consultants in Michigan.

Standard & Poor’s assigned an A rating and stable outlook to Detroit’s first post-bankruptcy bond sale, set for Aug. 19.

"Detroit's a much better credit than it was two years ago," its former emergency manager, Kevyn Orr, told a municipal bond market group.

Detroit is set to hit the market on August 19 with its first public bond sale since exiting the largest municipal bankruptcy in the U.S.

Moody's upgraded Michigan one notch on Friday, citing an improved financial profile, just days after S&P boosted its outlook on the state to positive.

Standard & Poor’s said Thursday that its junk ratings on Wayne County, Mich. will remain unchanged for now despite the declaration of a financial emergency.

Michigan Gov. Rick Snyder declared Wayne County, home of Detroit, to be in a financial emergency, just one day after a state review team made the recommendation.

The Detroit suburb of Allen Park is considering tendering $31 million of troubled bonds that have led to general fund deficits, a state takeover and federal securities fraud charges.

The Detroit City Council Tuesday voted to raise water and sewer rates, reversing an earlier vote that city and state officials had warned could bring additional state oversight down on the city.

Even as it stepped closer to a Michigan state takeover, Wayne County's county's chief executive said the struggling government would not travel down the same path as its largest city, Detroit.

Standard & Poor’s Tuesday raised its outlook on Michigan’s AA-minus rating to positive from stable.

The Michigan House is expected to adjourn for the summer without voting on a controversial plan to generate new road money for the state.

Michigan officials are touting the state's recovery from the Great Recession to investors considering buying $990 million of revenue bonds, the building authority's largest deal to date.

Michigan's Oakland University has become the second school in the state to forgo state aid in favor of a large tuition hike.

Michigan Gov. Rick Snyder signed into law an eight-bill package boosting the state treasurer's power over distressed school districts and creating an early-warning system for districts that could face a deficit.

The Michigan Treasurer and Detroit officials warned Detroit City Council members that their rejection of a water and sewer rate increase could spark additional state oversight.

After years of political stalemate, Michigan lawmakers appear close to a deal to tackle the state's aging roads and bridges with legislation that relies heavily on general fund dollars.