Summary: Monroe County, Michigan; General Obligation; Note

Standard & Poors, May 2011

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Abstract
Standard & Poor's Ratings Services assigned its 'SP-1+' short-term rating to Monroe County, Mich.'s series 2011 taxable general obligation (GO) limited-tax notes. Standard & Poor's also affirmed its 'AA-' long-term rating and underlying rating (SPUR) on the county's existing GO debt. The 'SP-1+' short-term rating reflects our view of the county's: Good, conservative projected coverage; Strong history of collections; and Limited-tax GO pledge. The 2010 real property taxes due to the county, outstanding and uncollected as of June 1, 2011, and the county's limited-tax GO pledge secure the series 2011 limited-tax notes. Pledged revenues securing the notes include $12.5 million of 2010 delinquent property taxes as of June 1, 2011, and an estimated $2.1 million of delinquent administration fees and...

Companies mentioned in this report are: Monroe Cnty
Action: Affirmed
Action: New Rating
Action: Outlook: Stable

Monroe Cnty

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