Detroit General-Obligation Wager Seen Paying 100%

Detroit General-Obligation Wager Seen Paying 100%

Jeff Kowalsky/Bloomberg

Detroit unlimited-tax general-obligation bonds maturing in April 2028 and backed by Assured Guaranty Ltd. traded at an average of about 88 cents on the dollar yesterday to yield 6.2 percent, or 2.7 percentage points more than top-rated debt with similar maturities, according to data compiled by Bloomberg.