Detroit city pension catch-up plan wins plaudits from rating agency

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Chad Livengood - Detroit's plan to squirrel away surplus funds to help absorb a $200 million balloon payment on city pensions coming due in seven years has won praise Monday from a Wall Street credit rating agency. Moody's Investors Service said Detroit's creation and initial funding of a "retiree protection" trust fund is a "credit positive" move to guard against an expected spike in pension payments coming due in 2024. When Detroit emerged from bankruptcy at the end of 2014, the city's debt-cutting plan

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