Chad Livengood
- Detroit's plan to squirrel away surplus funds to help absorb a $200 million balloon payment on city pensions coming due in seven years has won praise Monday from a Wall Street credit rating agency. Moody's Investors Service said Detroit's creation and initial funding of a "retiree protection" trust fund is a "credit positive" move to guard against an expected spike in pension payments coming due in 2024. When Detroit emerged from bankruptcy at the end of 2014, the city's debt-cutting plan
Chad Livengood
- Detroit's plan to squirrel away surplus funds to help absorb a $200 million balloon payment on city pensions coming due in seven years has won praise Monday from a Wall Street credit rating agency. Moody's Investors Service said Detroit's creation and initial funding of a "retiree protection" trust fund is a "credit positive" move to guard against an expected spike in pension payments coming due in 2024. When Detroit emerged from bankruptcy at the end of 2014, the city's debt-cutting plan