On Air Now

Upcoming Shows

Program Schedule »

Tune in to Listen

1590 AM Coldwater, Michigan 95.5 FM Coldwater, Michigan

Weather

Current Conditions(Coldwater,MI 49036)

More Weather »
60° Feels Like: 60°
Wind: SSE 7 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Today

Mostly Sunny 83°

Tonight

Mostly Clear 62°

Tomorrow

Mostly Sunny 86°

Alerts

  • 0 Severe Weather Alerts
  • 0 Cancellations

Fitch downgrades Detroit over bond payment concern

(Reuters) - Detroit's already low junk credit rating was downgraded to C by Fitch Ratings on Tuesday over concerns the beleaguered city may miss a debt service payment.

Fitch lowered the city's unlimited tax general obligation rating on about $511 million of bonds to CCC from B and cut the rating on about $453 million of limited tax GO bonds to CC from B.

The rating on Detroit's $1.5 billion of pension obligation certificates of participation was downgraded to CC from B with a warning that the rating could fall to the lowest level D if the city misses a debt service payment.

(Reporting by Karen Pierog)

Comments