The city of Detroit announced on Monday that it has received a credit upgrade from the credit rating agency Moody’s for the 11th year in a row. 

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Detroit’s rating went up one notch from Baa2 to Baa1 with a positive outlook, the city reported. The city’s financial resiliency and its operating performance over time were key reasons behind this year’s upgrade, Moody’s said in a statement.

Moody’s cited key projects underway — such as the new Hudson’s development, the expansion of Henry Ford Hospital’s campus, and the new Water Square development — as positives, adding that the city’s tax base has more than doubled in the past five years. 

The city’s credit rating hit an all-time low at Caa3 — considered “junk bond” status — in June 2013 after declaring bankruptcy.

“This is what happens when elected leaders set aside us-versus-them politics and work together,” Detroit Mayor Mike Duggan said in a statement. “Our CFO team, department heads and City Council all have demonstrated tremendous fiscal discipline over the past 11 years to help bring us to where we are today and to lay a strong foundation for years to come.”

Other headlines for Tuesday, July 1, 2025:

• Residents on Detroit’s east side are speaking out about gun violence after two young people were killed at a city playground near Denby High School on Friday. Police are still investigation the shooting, which claimed the lives of 4-year-old Samir Grubbs and 18-year-old Daviyon Shelmonson-Bey and left another teenager wounded. No suspects are in custody.
• The Motown Museum has reopened its “Motown Mile” art installation along the Detroit riverfront with a new exhibition honoring the legacy of Motown Museum founder Esther Gordy Edwards, titled “Keeper of the Dream.”
• Detroit’s neighbors across the river are celebrating Canada Day on Tuesday, commemorating the country’s “confederation.” Windsor residents celebrated with a parade down Ouelette Avenue late Tuesday morning.
• Detroit is getting a new WNBA team. The league announced the new team on Monday. Tom and Holly Gores will be the controlling owners of the new franchise, set to play in 2029. Other expansion teams will also be launched in Cleveland and Philadelphia that year. Detroit’s previous WNBA team — the Detroit Shock — played from 1998 until 2009, winning three championships during that time.

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