Moody's Investors Service said it has downgraded the city of Detroit's general obligation unlimited tax rating to Caa3 from Caa2 and its general obligation limited tax (GOLT) and certificates of participation (COPs) ratings to Ca from Caa3.

Detroit's Water Supply and Sewage Disposal Systems' ratings were also downgraded, with senior lien ratings falling to B1 from Ba1, and second lien ratings falling to B2 from Ba2. All ratings remain under review for further possible downgrade.

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