Detroit's Big Water Deal

Carvlin, Elizabeth
February 2005
Bond Buyer;2/2/2005, Vol. 351 Issue 32062, p1
Trade Publication
This article informs that the Detroit Water and Sewerage Department plans to return to the market this month to issue as much as $880 million of new money and refunding bonds that will carry an improved credit outlook from some rating analysts despite concerns about the system's growing debt. The city will follow the water system bonds with about $480 million of new and refunding sewer system second-lien revenue bonds. The size of the refunding portion will depend in part on the impact of the Federal Reserve meeting.


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