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Summary: Kent County, Michigan; General Obligation; General Obligation Equivalent Security Sep 11
Standard & Poors, September 2011
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
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.
- Kent Cnty