Michigan

Michigan Gov. Rick Snyder Thursday appointed a review team to delve into Wayne County’s finances, a day after a state board found the county to be in a probable state of fiscal stress.

A Michigan emergency board Wednesday found that the state’s most populous county faces probable financial stress, a finding that is the first step toward a partial or state takeover.

Issuers from Illinois, Wisconsin and Michigan compared notes on market challenges at the Bond Buyer's Midwest conference; Illinois credits face the toughest sledding.

Standard & Poor’s has put Wayne County’s speculative grade rating on CreditWatch with negative implications following its request for state intervention.

Wayne County, Mich. is reportedly asking a local businessman to buy a half-built, bond-financed jail in downtown Detroit as well as a historic building that houses county administrative offices as it scrambles to get a handle on a deteriorating fiscal position.

Michigan officials downplayed the possibility of bankruptcy for Wayne County as the county begins to walk down the same path as its largest city, Detroit.

Wayne County, Mich. officials say they expect investor interest in an upcoming financing though it will come just days after the county executive requested that the state step in and declare a financial emergency.

Michigan Gov. Rick Snyder touted the state’s new $54 billion 2016 budget as a spending plan that will continue the state’s “path to prosperity.”

Wayne County, Mich. Executive Warren Evans is asking for state intervention to help tackle the county’s fiscal woes, submitting on Wednesday a formal request that a financial emergency be declared.

A Michigan appeals court ruling clipped the authority of the state’s emergency managers in the first case examining the extent of their power under the state’s law for distressed local governments.

Holders of $5.2 billion of Detroit water and sewer bonds are again playing a key role as the city attempts to execute its last big bargain struck during its bankruptcy.

Holders of $5.2 billion of Detroit water and sewer bonds will have a say in whether a new regional authority will take over the long-troubled Detroit Water and Sewerage Department.

Wayne County, Mich. introduced discussion of how its debt might fare in a bankruptcy as it prepared to come to market with $187 million of notes.

Wayne County, Mich. has reached a settlement with a chunk of its retirees that will save the junk-rated government around $20 million a year.

Local governments in Michigan get a break in the state's new $54 billion budget, which holds steady on revenue aid after years of deep cuts.

The Wayne County, Mich. board Thursday rejected a proposal to cover a court-ordered pension payment with a special property tax levy, voting instead to dip into a delinquent revolving tax fund.

Michigan lawmakers have approved a bill to fix an election snafu in Flint that wiped off every mayoral candidate off the primary ballot.

Five years ago Michigan’s retirement systems attached their guarantee to a troubled bond deal, and being forced to cover payments, lawmakers will bail out the pension funds with general fund money.

Suzanne Shank, president and CEO of Siebert Brandford Shank & Co. LLC, has been named to a national panel dedicated to boosting private investment in infrastructure.

New Census figures show that people continue to move out of the Motor City, but at a slightly slower rate than in recent years.