Great news for the City of Detroit on its long road back from bankruptcy. Duggan hands out bottles of black ink.

"Moody's Investors Service upgraded Detroit's bond rating by two notches, bringing the city to a level it has not reached since 2009, before it filed for bankruptcy.

"Detroit's bond rating has now reached investment grade. A double upgrade is rare, Mayor Mike Duggan said at a Monday announcement celebrating alongside dozens of department heads. Higher ratings mean governments pay lower costs to borrow money for various investments and upgrades across the city.

"Duggan praised Detroit's chief financial officers from the last decade, budget directors, City Council and city departments that managed with financial constraints. The mayor passed out bottles of black ink to symbolize Detroit's return to investment grade credit rating, getting the city out of "red ink," which signifies financial losses."
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