- Language: English
- Published: November 2012
- Region: Michigan
Summary: Lapeer County, Michigan; General Obligation Sep 11
- ID: 1887708
- September 2011
- Region: Michigan
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'AA' long-term rating to Lapeer County, Mich.'s series 2011 limited-tax general obligation (GO) refunding bonds. At the same time, Standard & Poor's affirmed its 'AA' long-term rating and underlying rating (SPUR) on the county's existing GO debt. The outlook on all ratings is stable. The ratings reflect our assessment of the county's: Participation in the diverse southeastern Michigan economy; Good income and strong wealth levels; Very strong general fund reserves, coupled with additional sources of liquidity; and Moderate overall debt burden, coupled with rapid amortization. The preceding credit strengths are offset in part by our view of the county's declining tax base and above-average unemployment rate. The county's limited-tax GO pledge secures the...
Companies mentioned in this report are: Lapeer Cnty
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.
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 >