Reuters: Bankruptcy News: Fitch cuts Detroit's GO ratings to D on imminent default

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Fitch cuts Detroit's GO ratings to D on imminent default Sep 30th 2013, 20:31 Sept 30 | Mon Sep 30, 2013 4:31pm EDT Sept 30 (Reuters) - Fitch Ratings on Monday dropped Detroit's general obligation bonds ratings to the lowest level of D from C ahead of the city's expected Tuesday default on its debt-service payments. The downgrade affects about $411 million of the city's unlimited tax GO bonds and $202.8 million of limited tax GO bonds, Fitch said.

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