Midwest

Michigan Gov. Rick Snyder has declared the financial emergency in Hamtramck resolved and put a Receivership Transition Advisory Board in place to help keep the city on a sound fiscal path as it transitions to independence.

A sales tax hike to support $1.7 billion in annual transportation and education funding will go before Michigan voters under a plan lawmakers approved in a compromise with Gov. Rick Snyder.

Litigation challenging Chicago's pension reform legislation threatens the city's ability to escape $19 billion of unfunded liabilities, Fitch Ratings said.

One week after its emergency from Chapter 9 bankruptcy, Moody's Investors Service has assigned Detroit an issuer credit rating that's deep in junk bond territory at the B3 level.

Illinois Gov. Pat Quinn will call lawmakers back to work on Jan. 8 to take up legislation setting a special election to allow voters to pick a replacement to serve out the late Judy Baar Topinka's term that begins next month.

Missouri Attorney General Chris Koster sued 13 St. Louis County municipalities Thursday alleging violations of a state law that limits how much money they can make from court-related traffic fines.

Michigan-based Trinity Health is acquiring the Connecticut-based Saint Francis Care in a deal that allows Trinity to expand its Northeastern footprint and gives Saint Francis improved access to capital.

Moody's Investors Service assigned a negative outlook to Batavia, Illinois electric system revenue bonds citing weakened coverage levels and concerns over political will to raise rates tied to its participation in the Prairie State coal-fired project.

Ferguson, Mo.'s use of reserves to paper over budget deficits prompted a warning from Moody's Investors Service that the city's Aa3 rating could face a downgrade.

A group of Chicago unions, employees and retirees sued Tuesday to overturn pension reforms approved earlier this year, a move that threatens to reverse strides in stabilizing two of the city's four pension funds and the city's credit ratings.