- Published: May 2012
Summary: Monroe County, Michigan; General Obligation; Note
- Published: May 2011
- Standard & Poors
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
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: New Rating
Action: Outlook: Stable
SHOW LESS READ MORE >
|Electronic||The report will be emailed to you.|