Standard & Poor’s this week knocked the Detroit Local Development Finance Authority’s tax increment financing bonds Series 1997B and C and 1998A further into junk bond territory due to “significant uncertainty” over the future of a Chrysler plant that makes up most of the taxable value of the district.

The agency lowered the rating on the Series 1997B to B from BB and downgraded the 1997C and 1998A bonds to B-minus from BB-minus. The ratings were also placed on negative watch.

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