Fitch rates Detroit bonds A+, A

Fitch Ratings said it assigned a long-term underlying rating of A+ to the City of Detroit's $195 million of senior-lien (fixed-rate), series 2005-B, water supply system revenue bonds and an A rating to the city's $190.6 million of second-lien (fixed-rate), series 2001-C, water supply system revenue bonds.

The two series are conversions of existing variable-rate debt to fixed-rate debt.

Fitch also said it revised the outlook on all of the system's senior and second-lien debt to negative from stable.

The A+ rating on the city's $1.6 billion of outstanding senior-lien debt and the A rating on its $677.6 million of outstanding second-lien bonds was also affirmed.

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