Lindsay VanHulle
- LANSING — Looming financial emergencies in Flint and the Detroit Public Schools have caused Standard & Poor’s to lower its outlook on Michigan’s outstanding debt. The ratings agency said its decision this week to adjust its outlook on the state’s general obligation bonds and appropriation-backed debt from positive to stable reflects the likelihood that costs associated with Flint’s drinking water crisis and DPS’ cash crunch will continue to mount.
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