Summary: Kalamazoo, Michigan; General Obligation; General Obligation Equivalent Security; Miscellaneous Tax Jul 11
- Language: English
- Published: July 2011
- Region: Michigan
Standard & Poor's Ratings Services affirmed its 'AA' rating on Jackson, Mich.'s Michigan Transportation Fund (MTF) bonds, series 2003. The rating reflects our view of the city's pledge of up to 50% of total gas and weight taxes received by the city from the state during the most recent fiscal year ended June 30, 2010 according to state law Act 51, Public Acts of Michigan, 1951, as amended. The outlook is stable. The bonds were issued pursuant to the provisions of Act 175, Public Acts of Michigan, 1952, as amended and Act 202, Public Acts of Michigan, 1943, as amended. The bonds are payable from moneys to be derived from state-collected taxes returned to Jackson from the MTF for highway...
Companies mentioned in this report are: Jackson
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.
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.
SHOW LESS READ MORE >