S&P Downgrades City Of Dallas On "Continued Deterioration" Of Police Pension

Zero Hedge



As the City of Dallas continues to work with the Dallas Police and Fire Pension (DPFP) board on solutions to help close the pension's massive $4 billion funding hole, Standard & Poor's has finally decided that the "continued deterioration in the funded status" of the fund merits a downgrade.  As such, S&P has downgraded the city's general obligation bonds to "AA-" from "AA" and placed them on "negative watch."  Per the Dallas Business Journal:



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