Detroit’s Bankruptcy Exit Financing Gets Credit Rating from Standard & Poor's
Standard & Poor’s Ratings Services (S&P), one of the nation’s largest credit rating agencies, has issued a solid investment grade credit rating of “A/stable” on $245 million worth of bonds to be offered to the public by Barclay’s. These bonds are financial recovery bonds that were originally privately placed with Barclays Capital Inc. on December 10, 2014, as the city made it exit from Chapter 9 Bankruptcy. The bonds are being used to finance a number of important projects in the city, inclu...