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Detroit reaches bankruptcy deal over some bonds

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DETROIT — The city of Detroit reached a deal in bankruptcy over $388 million in bonds, mediators announced Wednesday, a significant agreement that could influence other creditors to try to get a settlement. Detroit will pay 74 cents for each dollar. Roughly $50 million in tax revenue that won't be needed to pay the balance instead will go to a fund to help low-income retirees who are expected...

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