Fitch Ratings revised to negative its  outlook on $5.3 million of AA-minus rated unlimited-tax general obligation debt sold by Berkley. The Detroit-area city has been struggling financially like many of its neighbors.

The city maintains solid general fund reserves and financial flexibility, and a manageable debt burden, but faces taxable value declines over the near-term given its location in one of the most depressed labor markets in the country.

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