Summary: Macomb Interceptor Drain Drainage District, Michigan Macomb County; General Obligation; General Obligation Equivalent Security Jul 10
Standard & Poors, July 2010
Abstract
Standard & Poor's Ratings Services has assigned its 'AAA' long-term rating to Macomb Interceptor Drain Drainage District, Mich.'s series 2010A limited-tax general obligation (GO) bonds, which are ultimately secured by Macomb County's limited-tax, full faith and credit GO pledge, and affirmed its 'AAA' long-term rating on GO bonds issued for Macomb County by itself and various issuers. In our opinion, the rating reflects Macomb County's: Deep economic base and participation in the Detroit metropolitan statistical area (MSA), though challenged by the current economic downturn and job losses; Maintenance of strong general fund reserve levels, despite challenges posed by this current revenue climate; Good management practices; Additional liquidity found in the delinquent tax revolving fund; and Moderate debt burden. We recognize...
Companies mentioned in this report are: Macomb Cnty,Macomb Cnty Bldg Auth,Seventeen Mile Rd & Branches Dr Dist,Busch Drain Drain Dist,Plumbrook Br Replacement Dr Drainage Dist,Hayes Dr Drainage Dist,Hawken Dr Drainage Dist,Lake St. Clair Clean Wtr Initiative,Seventeen Mile Extension Dr Drainage Dist,North Gratiot Interceptor Dr Drainage Dist ,Oakland-Macomb Interceptor Dr Drainage Dist,Macomb Interceptor Dr Drainage Dist
Action: Affirmed
Action: New Rating
Action: Outlook: Stable
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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.
Macomb Cnty,Macomb Cnty Bldg Auth,Seventeen Mile Rd & Branches Dr Dist,Busch Drain Drain Dist,Plumbrook Br Replacement Dr Drainage Dist,Hayes Dr Drainage Dist,Hawken Dr Drainage Dist,Lake St. Clair Clean Wtr Initiative,Seventeen Mile Extension Dr Drainage Dist,North Gratiot Interceptor Dr Drainage Dist ,Oakland-Macomb Interceptor Dr Drainage Dist,Macomb Interceptor Dr Drainage Dist
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