City’s financial plan slim on debt details

April 2012
Crain's Detroit Business;4/2/2012, Vol. 28 Issue 14, p0004
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.


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