Detroit bankruptcy

Detroit revised its revenue estimates upward this week as more revenue flows from the reopening of casinos and new internet gambling options.

Detroit Mayor Mike Duggan warns the revisions threaten the city's post-bankruptcy fiscal progress, but the charter commission calls the claim greatly exaggerated.

The state's court is weighing whether to allow a public vote on proposed charter revisions that Mayor Mike Duggan warns could trigger a fiscal crisis.

The city's fiscal health is holding steady but pension funding strains and possible charter changes pose future threats.

Charter revisions that Mayor Mike Duggan says could bankrupt the city will remain on the ballot at least for now as the state's high court considers the case.

The Detroit Financial Review Commission votes in June on a fourth one-year waiver that allows the city to manage its finances independently.

Mayor Mike Duggan and Michigan's governor, Gretchen Whitmer, have raised alarms over the impact of changes proposed by the Detroit Charter Review Commission.

“There’s been absolutely no effort made to take this collection of ideas and price it out,” Mayor Mike Duggan said of proposals to change the city charter.

Detroit is selling $80 million of its speculative grade-rated GO paper with more on tap should voters sign off on $250 million of blight borrowing.

The city faces the loss of $348 million of revenue because of the economic shutdown, threatening the balanced budgets it needs to avoid state intervention.

Moody's Investors Service revised its outlook on Detroit's general obligation bonds to positive from stable and affirmed its junk Ba3 rating.

Drawing the distinction between the region and the city helps the city provide better revenue projections going forward.

CFO Dave Massaron said the city is mindful of a potential downturn as it navigates its fiscal recovery from bankruptcy.

Officials of the art museum say the effects of Detroit's bankruptcy have impeded their efforts to build the endowment they had envisioned.

Paul Burton hosts from the Villanova School of Business campus in Philadelphia with finance professor David Fiorenza, where he and his "economics of art and entertainment" students discuss sports betting, casinos, stadium financing and Detroit bankruptcy art assets.

Detroit approved its first budget after leaving state oversight and city officials say they will get its ratings back to investment grade.

Four California and Chicago school districts are among issuers to earn negative outlooks in Fitch revisions after a ruling in Puerto Rico's bankruptcy.

Detroit issued bonds Friday to fund the successful tender offer.

A junk-rated $112 million deal without state backing will test the market's perceptions of the city's recovery from its Chapter 9 bankruptcy.

The comprehensive new law modernizes bond statutes on the books since the 1980s.