- Language: English
- Published: February 2012
- Region: Ohio
Summary: Madison Heights, Michigan; General Obligation Oct 11
- Published: October 2011
- Region: Michigan
- Standard & Poors
Standard & Poor's Ratings Services has affirmed its 'A+' rating on Madison Heights, Mich.'s general obligation (GO) debt outstanding. The outlook is negative. The rating reflects our view of the city's: Participation in the Oakland County economy; Strong fund balance levels; Adequate income and strong wealth levels; and Low debt burden. In our opinion, continuing revenue pressures due to significant decreases in taxable value and reductions in state revenue sharing partially offset these strengths. Madison Heights (with a population of 27,918) is 14 miles north of Detroit in Oakland County. Driven by declining residential housing values, taxable value fell 12.6% in 2010 and 10.8% in 2011, and management projects a 5.0% decline in 2012. Market value totaled $2.1 billion, or...
Companies mentioned in this report are: Madison Hgts
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 >