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Summary: Kent County, Michigan; General Obligation; General Obligation Equivalent Security Sep 11

  • ID: 1924491
  • September 2011
  • Region: Michigan
  • Standard & Poors
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Abstract
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: Affirmed
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 READ MORE >

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- Kent Cnty

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