Moody's downgrades Wayne County's(DETROITS) bond rating

[Voted4Reagan]

The bond rating of Wayne County has been downgraded by Moody’s Investors Service to one level above junk bond status.

Moody’s cited excess spending and an eroding tax base as reasons for the downgrade from Baa2 to Baa3.

From The Detroit News: http://www.detroitnews.com/article/20130803/METRO01/308020122#ixzz2auqGO5iw

 

[cawacko]

That's not surprising is it?

 

[Voted4Reagan]

That's not surprising is it?

No... but it should help hasten the filing of the Chapter 9 and get it moving quicker...

 

[PostmodernProphet]

That's not surprising is it?

yes, I was expecting SucksAss6......