Detroit’s Bankruptcy Exit Plan Threatens Its Financial Credibility
By Liz Farmer, Governing | |
McClatchy-Tribune Information Services |
"This disregard for the rights of bondholders will factor into higher borrowing costs for local issuers, and ultimately for local property taxpayers, in
"You are favoring one creditor over another," said
The bond insurers who have insured
Ratings agencies have also slammed the proposal while noting that the version proposed by
Unions have also promised to challenge
In
But if
"It's hard to imagine that, if there's a cram down with pennies on dollar being paid," he said, "I don't think investors would forget that any time soon."
-- -- -- -- -- --
[email protected] @LizFarmerTweets
___
(c)2014 Governing
Visit Governing at www.governing.com
Distributed by MCT Information Services
Wordcount: | 760 |
Michael Kent Plambeck wins appeal over State Farm Automobile Insurance Company in the US Sixth Circuit Court of Appeals
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News