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Brownstown Charter Township Building Authority, MI Refunding Bonds Rated 'A-'; Outlook Stable
Standard & Poors, Dec 2006
Abstract
CHICAGO (Standard & Poor's) Dec. 19, 2006-Standard & Poor's Ratings Services has assigned its 'A-' rating to Brownstown Charter Township's Building Authority, Mich.'s $5.615 million 2006 limited-tax GO building authority refunding bonds, issued for Brownstown Charter Township. The bonds are scheduled to sell on Dec. 20. The outlook is stable. The rating reflects the township's participation in the Detroit MSA economy; above-average wealth and income levels; strong tax base growth; and moderate debt burden, on a market value basis. The township's deteriorating financial position constrains the rating. 'We expect that the township will keep at least adequate reserve levels and that it will return to structurally balanced operations. A return to structural balance along with an improvement in the township's...
Companies mentioned in this report are: Brownstown Charter Twp,Brownstown Charter Twp Bldg Auth
Action: New Rating
Action: Outlook: Stable
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.
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