Summary: Oakland County Building Authority Oakland County, Michigan; Appropriations; General Obligation; General Obligation Equivalent Security Aug 10

Standard & Poors, August 2010

Abstract
Standard & Poor's Ratings Services assigned its 'AAA' rating, with a stable outlook, to Oakland County Building Auth., Mich.'s series 2010 building authority bonds, which are secured by Oakland County's limited-tax, full faith and credit general obligation (GO) pledge to pay debt service. We also affirmed our 'AAA' rating on the county's limited tax GO bonds outstanding. The rating reflects what we see as the county's: Deep and diverse economic base, despite its substantial contraction due to the current economic downturn and job losses in the automobile industry; Strong wealth and income levels; Strong financial operations with strong financial management and strong reserves; and Moderate debt burden with limited additional debt needs. The 'AA+' rating on the series 2007 taxable...

Companies mentioned in this report are:
- Oakland Cnty
- Oakland Cnty Bldg Auth

Action: Affirmed
Action: New Rating

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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.

- Oakland Cnty
- Oakland Cnty Bldg Auth

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