Detroit upgraded

Doug Henwood dhenwood at panix.com
Thu May 6 11:22:13 PDT 1999


from Grant's Municipal Finance Observer's email update:


>-> DETROIT?
>"That cities are coming back is not news. Week chases week, and everywhere we
>read about this or that downtown' flourishing, and sometimes in the most
>unlikely of spots. St. Louis? In the 1980s, St. Louis was dubbed The Carthage
>of America.' At the end of the 1990s, St. Louis is written up in Saveur, a
>glossy magazine that carries under it title the slogan Savor a world of
>authentic cuisine.' We were shocked, then, but not surprised, when Fitch IBCA
>upgraded Detroit to A- from BBB+. After recent years of stagnation, the City
>of Detroit is experiencing renewed growth because of increased private and
>public investment and continued conservative financial management of city
>operations,' the Detroit upgrade report read."

Charles, anyone, what in god's name is this all about?

Doug



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