Appointment of EM Helps Detroit's Credit Rating

What a difference an emergency managers makes.

Crain's Detroit Business reports that Detroit's  credit outlook has been raised from negative by Standard & Poor’s to stable since Gov. Rick Snyder named Kevyn Orr the EM.

“We view the appointment of an emergency manager as a positive step toward regaining structural balance and improving the city’s overall financial condition,” said Standard & Poor’s credit analyst Jane Hudson Ridley, according to Crain's.