- Language: English
- Published: October 2012
- Region: Michigan
Summary: Michigan; Tax Secured, General Obligation Oct 05
- ID: 1929925
- October 2005
- Region: Michigan
- Standard & Poors
The 'AA' rating on Michigan's GO bonds has been affirmed following the passage of the state's fiscal 2006 budget. The rating reflects the state's increasingly balanced budgets and conservative revenue forecasting that are permitting it to weather a prolonged period of economic weakness despite reduced liquidity levels. The state's favorable debt and pension positions are additional strengths over the long term. Michigan remains the only in state in recession, according to economic forecasting firm Economy.com, and is set to realize a remarkable fifth straight year of total declines in employment. Fortunately, the magnitude of these declines has consistently declined to where calendar year 2005 levels are expected to be almost equal to those in 2004. This relative stability is largely...
Companies mentioned in this report are:
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 >