On Air Now

Listen

Listen Live Now » 98.5 FM Battle Creek, Michigan

Weather

Current Conditions(Battle Creek,MI 49017)

More Weather »
54° Feels Like: 54°
Wind: NW 3 mph Past 24 hrs - Precip: 0.01”
Current Radar for Zip

Tonight

Clouds Early/Clearing Late 47°

Tomorrow

Partly Cloudy 65°

Wed Night

Mostly Clear 43°

Alerts

Detroit, banks have no final debt deal agreement

DETROIT (WKZO) -- The proposed 85-million dollar agreement reached between the City of Detroit and two banks has not been finalized.

The loan to pay off a pension debt deal with UBS and Bank of America was reportedly agreed upon weeks ago. However, an attorney for the City of Detroit told U.S. Bankruptcy Judge Stephen Rhodes a final agreement has not been drafted only a "term sheet."

Rhodes was not happy about the news but was assured a final agreement is close. The judge earlier rejected to other proposals to pay off the debt.

Comments