Summary: Oakland County Building Authority, Michigan Oakland County; Appropriations; General Obligation; General Obligation Equivalent Security Dec 11

Standard & Poors, December 2011

Abstract
Standard & Poor's Ratings Services assigned its 'AAA' rating, with a stable outlook, to Oakland County Building Authority, Mich.'s series 2011A and 2011B refunding bonds. The bonds are secured by Oakland County's limited-tax, full faith and credit general obligation (GO) pledge to pay debt service. We also affirmed our 'AAA' rating on Oakland County's outstanding limited-tax GO bonds. The rating reflects our view of the county's: Deep and diverse economic base despite a substantial contraction due to the economic downturn and job losses in the automobile industry; Strong wealth and income levels; Robust financial operations with strong financial management and very strong reserves; and Moderate debt burden with limited additional debt needs and fully funded pension and retiree health care...

Companies mentioned in this report are:
- Oakland Cnty
- Oakland Cnty Bldg Auth

Action: Affirmed
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.

- Oakland Cnty
- Oakland Cnty Bldg Auth

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