December 21, 2017 / 8:12 PM / 10 months ago

BRIEF-S&P Raises Detroit's Issuer Credit Rating To 'B+' From 'B'

Dec 21 (Reuters) - S&P:

* SAYS DETROIT ISSUER CREDIT RATING RAISED TO ‘B+’ FROM ‘B’ ON STABILIZING OPERATIONS; OUTLOOK STABLE

* SAYS UPGRADE REFLECTS VIEW OF DETROIT’S MOMENTUM ON STABILIZING OPERATIONS, PREPAREDNESS TO ADDRESS FUTURE PENSION CONTRIBUTION INCREASES

* SAYS DETROIT’S RATING REMAINS CONSTRAINED BY ONGOING STRUCTURAL IMBALANCE

* SAYS DETROIT’S RATING ALSO REMAINS CONSTRAINED BY S&P’S “HESITATION REGARDING DETROIT’S WILLINGNESS TO SUPPORT GO DEBT OBLIGATIONS”

* SAYS STABLE OUTLOOK REFLECTS VIEW OF DETROIT'S RECENTLY STEADIED & SIGNIFICANTLY BUILT-UP RESERVE, LIQUIDITY POSITION Source text - (bit.ly/2p5PBsz)

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