Thursday, March 28, 2013

Detroit emergency manager says he'll haggle with bondholders

Detroit emergency manager says he'll haggle with bondholders | Crain's Detroit Business:
"Detroit has about $8.6 billion of long-term bond debt, including $6.1 billion of non-general obligation debt, $963.4 million of general-obligation bonds and $1.5 billion of borrowings to fund pension liabilities, according to a report from a financial team that reviewed the city’s finances.
When other pension and retiree health-care obligations are included, the city burden totals almost $15 billion."

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