CHICAGO Standard & Poor's gave an investment-grade rating to a series of bonds Detroit recently sold as part of its exit from bankruptcy.
The investment-grade rating was released Monday, the same day a Michigan authority gave final approval to the distribution of $195 million in state payments to the city's two pension funds under the $800 million so-called "grand bargain" underpinning Detroit's bankruptcy exit plan.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access