Detroit bankruptcy delays municipal bond sales

6:16 am
Fri August 9, 2013

Detroit bankruptcy delays municipal bond sales

Lead in text: 
Battle Creek is among the municipalities that have delayed issuing bonds
A third Michigan local government has postponed a bond sale, amid concerns Detroit's bankruptcy filing will change the rules of the municipal bond game and make it more expensive for communities to borrow money. Saginaw County, with 198,353 residents in mid-Michigan, delayed a $60.5 million pension bond sale on Thursday because investors were seeking higher interest rates.