Moody's sees bankruptcy risk from Detroit fiscal emergency
March 4 (Reuters) - The city of Detroit would have a potential path to bankruptcy court under a state-appointed emergency financial manager posing risks to the city's bondholders, Moody's Investors Service said on Monday.
The ratings agency also pointed out that the appointment of a manager would be an additional termination trigger for interest rate swap agreements associated with pension debt the city sold in 2006.
- Exclusive: Angry with Washington, 1 in 4 Americans open to secession
- Scots spurn independence in historic vote but demand new powers |
- Eight bodies found after attack on Guinea Ebola education team
- Special Report: Scotland stays in UK, but Britain faces change
- Alibaba IPO prices at top of range, raising $21.8 billion |