Summary: Saginaw City School District, Michigan; School State Program Jun 11

Standard & Poors, June 2011

Abstract
Standard & Poor's Ratings Services lowered its school issuer credit rating (ICR) on Saginaw City School District, Mich.'s general obligation (GO) debt one notch to 'BBB+' from 'A-' based on Standard & Poor's assessment of the district's annual general fund balance drawdowns and projected negative fund balance at fiscal year-end 2011. The outlook is stable. At the same time, Standard & Poor's affirmed its 'AA-' program rating, with a stable outlook, on the district's GO bonds based on its eligibility for, and participation in, the Michigan State School Loan Bond Loan program. The ICR also reflects our view of the district's: Local economy, beleaguered by, what we consider, high unemployment; Economic indicators that range from low-to-adequate; and Enrollment decline, directly...

Companies mentioned in this report are: Saginaw City Sch Dist
Action: Affirmed
Action: Downgraded
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.

Saginaw City Sch Dist

Customers who bought this item also bought

• Library Use of eBooks, 2013 Edition
• Charter Schools - Global Outlook
• Making a Collection Count: A Holistic Approach to Library Collection Management
• IntelliNews - Bosnia and Herzegovina Country Report - Issue 3, 2013
• Linking Leadership to Student Learning
• The Comparative Guide to American Elementary & Secondary Schools 2012 Edition
• The New York State Directory 2013/14 Edition
• Academic Library Cataloging Practices Benchmarks
• College and Career Ready. Helping All Students Succeed Beyond High School
• 2009 Public Sector - UK Key Corporate Changes