Posted 3/25/2024, 6:52:50 PM
Detroit's Credit Outlook Brightens with Rating Upgrade 10 Years After Bankruptcy
- Detroit's credit rating upgraded to investment grade by Moody's, a decade after bankruptcy
- Rating reflects Detroit's financial resiliency, balanced budgets, doubling tax base
- Upgrade makes future borrowing easier; city plans $20M-$30M bond sale
- Challenges remain with declining population, dependence on auto industry
- Rating outlook positive; further upgrades possible if fiscal progress continues
