Standard & Poor's Ratings Services assigned its 'AAA' long-term rating to Kent County, Mich.'s series 2011 revenue refunding bonds. Standard & Poor's also affirmed its 'AAA' long-term rating, with a stable outlook, on the existing general obligation (GO) debt, issued by various entities. The rating reflects what we see as Kent County's: Maintenance of a very strong financial position, coupled with strong financial management practices; Diversifying manufacturing-based economy, with an expanding services industry; Strong wealth and good income indicators; Robust property tax base of more than $43 billion; and Moderate overall debt burden. The bonds are secured by net revenues derived by Kent County from operation of the Gerald R. Ford International Airport (BBB+/Stable), as well as the county's obligation...
Companies mentioned in this report are:
- Kent Cnty
Action: New Rating
Action: Outlook: Stable
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