Kent County Building Authority, Michigan Kent County; General Obligation; General Obligation Equivalent Security Nov 09
Standard & Poors, November 2009
Abstract
Standard & Poor's Ratings Services assigned its 'AAA' rating and stable outlook to Kent County Building Authority, Mich.'s series 2009 limited-tax general obligation (GO) building authority bonds, issued for Kent County, and affirmed its 'AAA' rating, with a stable outlook, on the county's existing GO debt. In our opinion, the rating reflects the county's: Diversifying manufacturing-based economy with an expanding services industry; Strong wealth and good income indicators; Robust property tax base, which totals more than $47 billion; Prudent managerial practices, which have helped the county maintain very strong finances despite the recent use of reserves; and Moderate overall debt burden. Although we are concerned by the impact of the economic downturn on the county's finances, we believe that a...
Companies mentioned in this report are:
- Kent Cnty
- Kent Cnty Bldg Auth
Action: New Rating
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.
Research Type: Full Analysis
- Kent Cnty
- Kent Cnty Bldg Auth
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