CHICAGO — Detroit emergency manager Kevyn Orr’s restructuring plan released this week “puts default squarely on the table” and signals that a Chapter 9 bankruptcy filing is a strong possibility, Moody’s Investors Service warned in a comment Thursday.

“The plan is negative for Detroit bondholders because it indicates that the city requires ‘significant and fundamental debt relief’ to help shore up its finances, a clear indication that a default or bankruptcy is a real option,” Moody’s analyst Genevieve Nolan said in the comment.

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