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Alder Creek and Branches Drain Drainage District, Michigan; General Obligation, Local GO; General Obligation, Special District
Standard & Poors, July 2000
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
Abstract
The rating on Tuscola County, Mich.'s limited-tax GO bonds, issued on behalf of Alder Creek and Branches Drain Drainage District, reflects the county's: Limited-tax GO pledge; Limited, agricultural and manufacturing-oriented local economy; Below-average wealth levels; Stable financial performance; Strong assessed value (AV) growth; and Low debt burden. The limited-tax GO pledge of the drainage district is also pledged to bond repayment, which is expected to be made by special assessment levies. The district has no general taxing powers. Tuscola County (population 60,300) encompasses 816 square miles and is about 20 miles northwest of Flint, Mich. Taxable value has increased an annual average of 5.1% since 1996, with an estimated 2000 market value of $2.5 billion, or $41,200 per capita. County...
Companies mentioned in this report are: Tuscola Cnty
Action: New Rating
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