DETROIT, MI (AP)-- Moody's says Detroit has defaulted on its most recent general obligation bond debt payment.
Analysts in the rating agency's Chicago office say that Tuesday's missed payment by the city was expected.
A spokesman for emergency manager Kevyn Orr says Detroit has $641 million in unsecured general obligation bonds and that "no unsecured debt is being paid right now."
Bill Nowling says an interest-only payment of about $4.3 million was made Tuesday on $479 million in secured general obligation bonds.
Orr is steering Detroit through the largest municipal bankruptcy filing in U.S. history. He says Detroit's debt is $18 billion or more.
Orr defaulted on $2.5 billion of the city's unsecured debt in June about the time he asked creditors to take pennies on the dollar for debt owed them.
