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Antrim County, MI's Series 2011 General Obligation Bonds Rated 'AA-'; Outlook Stable
Standard & Poors, April 2011
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
CHICAGO (Standard & Poor's) April 28, 2011--Standard & Poor's Ratings Services assigned its 'AA-' long-term rating to Antrim County, Mich.'s series 2011 general obligation (GO) limited tax bonds. The outlook is stable. The rating reflects what we view as the county's: Very strong financial reserves; Maintenance of positive general fund operations; Access to employment opportunities in Traverse City; Very strong market value per capita; and Low debt burden. These credit strengths are partially offset by what we consider the county's adequate, but below average, income levels and high unemployment rate due to the limited, recreation-based local economy. The bonds are secured by the county's limited-tax GO pledge. We understand that bond proceeds will be used to finance additions or renovations...
Companies mentioned in this report are: Antrim Cnty
Action: New Rating
Action: Outlook: Stable
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