LOS ANGELES — The plan of adjustment bankrupt Stockton, Calif. proposed gives bondholders a better idea about recovery rates for the city's lease revenue, enterprise revenue, and other obligations, but major questions remain, say analysts at Moody's Investors Service.

While the city is proposing a wide range of recovery on its outstanding bonds, the recovery rate is related both to the essentiality of the underlying lease and the availability of non-general fund revenue to offset debt service, Moody's said in a new report.

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