Detroit’s bond redemption a credit positive step toward addressing rising fixed costs

Source: David Levett, Rachel Cortez, Alexandra S. Parker, Moody’s, Issuer Comment, March 21, 2018
(subscription required)

The retirement of $52 million of principal and $2 million of interest on its financial recovery bonds is the latest example of the city’s effort to strengthen its financial position as it prepares for a $140 million increase in pension contributions in fiscal 2024.