- Michigan
The unclear future of Detroit Public Schools state-aid backed bonds, plus governance and tax collection issues following the district's restructuring, prompted Moody's Investors Service to shift its outlook to "developing" from "negative."
September 15 - Michigan
Detroit Public Schools' $212 million of state aid-backed bonds slipped two to three notches further into junk territory over uncertainty tied to the bonds' security after a restructuring of the school district.
September 14 -
Detroit-based Henry Ford Health System, one of the largest healthcare systems in Southeast Michigan, hits the market with an $821 million refunding next week sporting an upgrade from one rating agency and a positive outlook shift from another.
September 8 - Michigan
Michigans economy has continued to improve without helping the fiscal health of the states local governments, according to a new University of Michigan report on the states local governments.
August 30 -
The default of some unrated nonprofit project bonds in Michigan and subsequent struggle to recover funds highlights the frustration bondholders sometimes feel in working with trustees, who are tasked with acting as the agents of the investors in distressed and default situations.
August 26 - Missouri
The issuers of the Midwest sold $41 billion of municipal bonds in the first half of 2016, spurred by increased new money issuance, according to Thomson Reuters data.
August 23 -
Michigan's Wayne State University expects to return to the bond market to raise up to $14 million for the new business school for which it broke ground last month.
August 18 -
Bondholders' poor recovery relative to pensioners in Detroit was typical of municipal bankruptcies, as protecting the workforce has outweighed debt repayment in courtrooms across the nation.
August 17 -
Detroit-based law firm Clark Hill is expanding its public finance reach in Michigan with the acquisition of competitor Axe & Ecklund.
August 16 - Michigan
The city of Wayne, Michigan lost its investment grade rating amid struggles to erase red ink and faces further credit erosion as it veers toward state oversight.
August 12