Detroit bankruptcy would cost suburbs millions

DETROIT (WXYZ) - 7 Action News has learned the suburbs could take a multi-million dollar financial hit if Detroit goes into a Chapter 9 Bankruptcy. 

Oakland and Macomb Counties have been told their AAA bong ratings could be moved down just by being next door to Detroit. 

Officials in Washtenaw County tell 7 Action News they are meeting with the bond rating agencies this week. 

On Friday, Detroit Emergency Manager Kevyn Orr is set to meet with 150 creditors where he will open negotiations. Some say he will offer then only ten cents on the dollar. 

If concessions are not made by creditors, Orr says he is set to take Detroit into bankruptcy and it would be the largest in history.

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