Detroit bankruptcy won't harm Michigan, U.S. credit quality-S&P
July 19 (Reuters) - Detroit's filing of the biggest-ever U.S. municipal bankruptcy will not have a direct impact on the credit quality of the rest of Michigan or the country as a whole, Standard & Poor's Ratings Services said on Friday.
"Although there are state and local government issuers across the U.S. that continue to struggle, we do not anticipate a contagion effect," the credit ratings agency said.
- Housing, jobs data weaken, but overall economic picture still upbeat
- Target cyber breach hits 40 million payment cards at holiday peak |
- 'Duck Dynasty' anti-gay fallout sparks debate on religion, tolerance
- UPDATE 3-Saab wins Brazil jet deal after NSA spying sours Boeing bid
- Zuckerberg to sell Facebook shares worth about $2.3 billion |