Wednesday, July 15, 2015

GoLocal Prov: Providence Rhode Island Defaulted June 30, 2015…So What

Tuesday, July 14, 2015
Michael G. Riley, GoLocalProv MINDSETTER™

The City of Providence Rhode Island defaulted midnight June 30, 2015 on a $62 million dollar debt to the City of Providence Pension plan. That very same day Greece defaulted on $1.7 billion due to the IMF. Both Greece and Providence continue to operate as governments. Fitch and Moody’s rate Greece Debt as “junk”, while Providence Rhode Island debt is rated Baa1 by Moody’s Investor Services and by Fitch as BB.

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