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8 months ago
BRIEF-Moody's says recent split leaving Detroit Public Schools as entity devoted to pay debt service increases likelihood will meet $2.2 bln in obligations
December 21, 2016 / 5:18 PM / 8 months ago

BRIEF-Moody's says recent split leaving Detroit Public Schools as entity devoted to pay debt service increases likelihood will meet $2.2 bln in obligations

Dec 21 (Reuters) - Source: Moody's

* Moody's on Detroit Public Schools -credit risks persist, but legislative action points to the state's willingness to provide relief

* Moody's says recent split leaving Detroit Public Schools as entity devoted to pay debt service increases likelihood will meet $2.2 billion in obligations

* Moody's on Detroit Public Schools - the split of DPS into two legal entities (OLDCO/NEWCO) is a credit positive for bondholders of existing DPS debt

* Moody's on Detroit Public Schools says economic and demographic trends in the city of detroit will play a crucial role in DPS' ongoing credit quality

* Moody's on Detroit Public Schools -DPS will benefit from two property tax levies,elimination of operating pressures challenging traditional school districts

* Moody's on Detroit Public Schools -Detroit's tax base depreciation,declining population, weak income levels, among others remain long-term challenges

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