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Fitch Cuts Detroit ULTGOs to B
Thursday, March 22, 2012
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Fitch Ratings said it has downgraded Detroit’s ratings, as follows: approximately $553 million unlimited tax general obligation (ULTGO) bonds to B from BB-minus; approximately $486 million limited tax general obligation (LTGO) bonds to B-minus from B-plus; approximately $1.5 billion pension obligation certificates of participation (COPs) series 2005-A, 2006-A, and 2006-B...

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