TITLE

City’s financial plan slim on debt details

AUTHOR(S)
KAFFER, NANCY
PUB. DATE
April 2012
SOURCE
Crain's Detroit Business;4/2/2012, Vol. 28 Issue 14, p0004
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports on the preparation of Detroit City Council to either approve or reject the financial stability plan of the city in Detroit, Michigan. It notes the move of the council in approving 137 million dollar bond sale refinancing package needed for the city's April 1 debt payment of the fiscal year. Moody's, Fitch Ratings, and Standards & Poor's have further downgraded the city's below-investment-grade ratings that triggered the termination payment and other impending budget deficits.
ACCESSION #
74142529

 

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