Reuters: Bankruptcy News: Moody's cuts ratings on Detroit water and sewer debt

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Moody's cuts ratings on Detroit water and sewer debt Apr 9th 2012, 20:43 April 9 | Mon Apr 9, 2012 4:43pm EDT April 9 (Reuters) - Moody's Investors Service on Monday downgraded the ratings on Detroit's water and sewer debt, citing a heightened risk of default and bankruptcy by the city. Moody's dropped the rating on Detroit's senior lien water and sewerage disposal debt to Baa1 from A1 and the rating on second lien debt to Baa2 from A2. (Reporting By Karen Pierog; Editing by Chizu Nomiyama)

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