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Fitch cuts Wayne County GO bonds to 'B'
March 12, 2015 / 9:07 PM / 3 years ago

Fitch cuts Wayne County GO bonds to 'B'

March 12 (Reuters) - Fitch Ratings has cut the ratings for some Wayne County, Michigan general obligation (GO) bonds to ‘B’, citing a wider structural deficit and the likelihood of intervention by the state.

"The downgrade stems from updated county projections showing the structural deficit to be wider and liquidity narrower than previously thought," the agency said. (bit.ly/1wAy09v)

The ratings are on Negative Watch. (Reporting By Tanvi Mehta in Bengaluru; Editing by Simon Jennings)

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