Midwest

The federal judge overseeing Detroit's bankruptcy has delayed by one week the key trial in the case, while the city dropped its proposal to hire a post-bankruptcy monitor and FGIC dropped its subpoena of Gov. Rick Snyder

The 6th circuit appeals court will hear oral arguments Wednesday on Syncora's appeal of a key decision in the Detroit bankruptcy, one of the insurer's five pending appeals in the case.

Illinois made headway in paying down its bill backlog in fiscal 2014, bringing the total to under $5 billion for the first time in years, as state revenues showed growth on par with estimates.

The Detroit Metropolitan Wayne County Airport is heading to market next week with $107 million of airport revenue bonds, hoping it doesn't take too much of a beating for carrying what is one of the most tainted names in the municipal bond world.

Detroit emergency manager Kevyn Orr Tuesday issued an order that gives the city's mayor control of the Detroit Water and Sewerage Department.

The Illinois Sports Facilities Authority is playing up the rare tax-exemption from state income taxes and sturdy repayment protections offered by its $285 million refunding that’s linked to the troubled state credit through an appropriation pledge.

A settlement with Detroit's limited-tax general obligation bondholders that calls for a 34% recovery also gives the creditors a say in the city's effort to repudiate $1.4 billion of pension certificates, one of the most controversial aspects of the bankruptcy case.

One rating agency dropped Rock Island County, Ill. out of the double-A category while another boosted it into the upper ranks, providing a stark contrast in credit views.

The Chicago Infrastructure Trust hopes to launch a competitive selection process this fall for private partners in its third energy retrofit project – city outdoor lighting upgrades.

The outcome of Detroit's high-profile bankruptcy case could influence how other distressed Michigan governments prioritize their own retirement obligations against other types of debt, Moody's Investors Service said.