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Fitch Ratings downgraded more than $7 billion of general revenue bonds issued by the University of California to AA from AA-plus.
February 5
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Michigan Gov. Rick Snyder said it would be premature to assume that Detroit's bankruptcy will drive up borrowing costs across the state.
February 5
- Texas
The hot Texas economy is spurring operators of the state's airports and seaports to provide new infrastructure to accommodate the growing state.
February 5
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A partially bond funded plan to build a $650 million hockey arena and entertainment district near downtown Detroit advanced Tuesday when the city council agreed to transfer 39 acres of public land to the project.
February 4
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Detroit, going to battle with its interest-rate swap counterparties, filed a lawsuit seeking to invalidate $1.4 billion of pension certificates that the swaps hedge, saying the borrowing was illegal from the start.
February 3
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Detroit's bankruptcy plan circulated to creditors last week yields them greater recoveries to creditors than a first offer floated last year, but should still be seen as a rough draft that could change significantly.
February 3
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Detroit has asked the bankruptcy court overseeing its Chapter 9 case to dissolve a committee representing unsecured creditors that the U.S. Trustee said is required under code.
February 3 -
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The state of Illinois will thunder into the primary market this week with a $1 billion sale of general obligation bonds, hoping to feed supply-hungry investors after a sluggish start to the New Year.
February 2
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Detroit late Friday filed a lawsuit challenging the legality of the structure tied to its 2005 sale of pension certificates and controversial swaps linked to the debt.
January 31 -
Negotiations intensified on several fronts as Detroit nears a self-imposed deadline to craft a detailed plan to exit Chapter 9 bankruptcy, with the fate of a debtor-in-possession loan in doubt.
January 31
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The growth of shipping fleets is outstripping demand, leading Moody's Investors Service analysts to slap a negative outlook on U.S. ports for the next 18 months.
January 31
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Detroit has reportedly proposed paying its pensioners more and in cash than its general obligation bondholders, who would receive notes equivalent to roughly 20% percent of their claims in its bankruptcy exit plan.
January 31
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