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A deal to create a new bond-issuing authority to take over the troubled Detroit Water and Sewerage Department advanced this week with the remaining counties approving the plan.
October 10 -
Moody's Investors Service warned Wednesday it may downgrade Detroit's Ca-rated certificates of participation, saying it expects to resolve the outlook when and if the bankrupt city settles with the bond insurer that wraps the bulk of the certificates.
October 8 -
The city of Detroit rested its case in the trial to decide if its bankruptcy confirmation plan will be confirmed after Detroit Mayor Mike Duggan and City Council President Brenda Jones testified that they would work to support and implement its plan of confirmation.
October 7 -
Bond insurer Syncora Guarantee Inc.'s settlement with Detroit was the focus of much of the testimony Friday during the federal trial on the city's bankruptcy exit plan.
October 3 -
Detroit emergency manager Kevyn Orr on Wednesday offered a glimpse into the city's high-stakes negotiations and subsequent settlements with bondholders during the course of its historic bankruptcy.
October 2 -
Detroit's attorneys called a $1.5 billion 2005 certificates of participation financing an "insider deal" that benefited banks and helped doom the struggling city during a federal hearing on the disputed debt issuance.
October 1 -
A post-bankrupt Detroit will not only be a "normal borrower" within a year, but will be stronger than many credits in the muni market, the city's investment banker testified in federal court Tuesday.
October 1 -
Bond insurer Financial Guaranty Insurance Co., the last major holdout creditor in Detroit's bankruptcy, is reportedly nearing a settlement with the city that includes a mix of cash and city assets.
September 30 -
US Bankruptcy Judge Steven Rhodes, who is overseeing Detroit's bankruptcy, ruled in favor of the city Monday when he dismissed a restraining order blocking the city's ability to shut off water to nonpaying customers.
September 29 -
Detroit Friday gained Michigan's final approval for a plan to issue $1.1 billion of bonds for a bankruptcy exit financing and to raise money to pay off several creditors.
September 26