- Language: English
- Published: November 2012
- Region: Michigan
Summary: Petoskey, MI; General Obligation, Local GO Nov 99
- ID: 1820105
- November 1999
- Standard & Poors
The rating on Petoskey, Mich.'s bonds reflects: A shallow and seasonal economic base dependent on tourism, Below-average wealth, Limited taxing flexibility, Satisfactory financial position, and Moderate debt burden. The bonds are secured by a limited ad valorem tax pledge of the city. Located in the northwestern area of Michigan's lower peninsula near Lake Michigan, Petoskey is the seat of Emmet County. The city serves as a commercial and retail center for the area. Population has remained at just over 6,000 since 1980. Much of the area's economic base centers around services, which account for 35% of the county's employment and 38% of its income. The two largest employers are a local hospital and a clinic, employing a total workforce of...
Companies mentioned in this report are: Petoskey
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.