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Detroit bankruptcy won't harm Michigan, U.S. credit quality-S&P
July 19, 2013 / 8:56 PM / 4 years ago

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.

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