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Summary: Michigan State School Bond Loan Fund Program; School State Program Aug 06
Description:
Abstract
The rating outlook on bonds participating in the Michigan State School Bond Loan Fund Program has been revised to negative from stable, reflecting the outlook revision on the state of Michigan's GO debt. The rating remains 'AA'. Section 16 of Article 9 of Michigan's constitution (adopted in 1963) created the Michigan School Bond Loan Fund Program to provide districts access to funds to avoid a default on qualified debt. Under this program, if a school district fails to meet its debt service obligation for qualified debt, the state treasurer is notified. The treasurer pays the required debt service, and payment to bondholders is uninterrupted. If the balance in the state's loan fund is insufficient to cover obligations, the state is...
Action: Affirmed
Action: Outlook: Negative
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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.
Companies Mentioned
- Adrian Sch Dist
- Allegan Pub Sch
- Muskegon Hgts Sch Dist
- Muskegon Pub Schs
- Munising Pub Schs
- Mount Clemens Comnty Sch Dist
- Morenci Area Schs
- Montabella Comnty Schs
- Milan Area Sch Dist
- Mattawan Cons Sch
- Mason Pub Schs
- Marysville Pub Schs
- Linden Comnty Schools
- Lincoln Cons Sch Dist
- Lawton Comnty Schs
- Lakeville Comnty Sch Dist
- Lake Orion Comnty Sch Dist
- L'anse Creuse Pub Schs
- Kenowa Hills Pub Schs
- Jackson Pub Schs
- Huron Sch Dist
- Hudsonville Pub Schs
- Howell Pub Schs
- Hazel Pk Sch Dist
- Hartland Cons Schs
- Harper Creek Comnty Schs
- Hanover-Horton Sch
- Hamilton Comnty Schs
- Greenville Pub Schs
- Gibraltar Sch Dist
- Gaylord Comnty Sch
- Garden City Sch Dist
- Galesburg-Augusta Comnty Sch Dist
- Fremont Pub Schs
- Freeland Comnty Sch Dist
- Fraser Pub Sch Dist
- Frankenmuth Sch Dist
- Fowlerville Comnty Schs
- East Lansing Sch Dist
- East Grand Rapids Pub Schs
- Durand Area Schs
- Detroit Sch Dist
- Clarkston Comnty Schs
- Chippewa Vy Schs
- Chippewa Hills Sch Dist
- Central Montcalm Pub Sch
- Caledonia Comnty Schs
- Cadillac Area Pub Schs
- Byron Ctr Pub Schs
- Buchanan Comnty Schs
- Brandon Sch Dist
- Boyne City Pub Schs
- Big Rapids Pub Schs
- Bay City Sch Dist
- Bangor Pub Sch
- Avondale Sch Dist
- Atlanta Comnty Sch Dist
- Armada Area Sch
- Ann Arbor Pub Sch
- Alpena Pub Schs
- Lake Shore Pub Schs (Macomb Cnty)
- Allendale Pub Schs
- Clintondale Comnty Schs
- Berkley Sch Dist
- Coopersville Area Pub Schs
- Dearborn Sch Dist
- Carrollton Pub Schs
- Fenton Area Pub Schs
- Grant Pub Schs
- Haslett Pub Schs
- Ferndale Sch Dist
- Gladwin Comnty Schs
- Centreville Pub Sch
- Dewitt Pub Schs
- Homer Comnty Sch Dist
- Lakeview Comnty Schs
- Madison Dist Pub Schs
- Bath Comnty Schs
- Meridian Pub Schs
- Dundee Comnty Schs
- Grosse Ile Twp Schs
- Anchor Bay Sch Dist
- Charlotte Pub Schs
- Lakeview Pub Schs
- Farmington Pub Sch Dist
- Comstock Pk Pub Schs
- Harper Woods Sch Dist
- Escanaba Area Pub Sch
- Lowell Area Sch Dist
- Menominee Area Pub Schs
- Chassell Twp Schs
- Brimley Area Schs
- Caro Comnty Schs
- Huron Vy Sch Dist
- Marcellus Comnty Sch Dist
- Gull Lake Comnty Schs
- Iron Mountain Sch Dist
- Imlay City Comnty Schs
- Belding Area Schs
- Mendon Comnty Schs
- Mason Cnty Cent Sch Dist
- Holly Area Sch Dist
- Montague Area Pub Schs
- Bad Axe Pub Sch
- Marshall Pub Schs
- Bullock Creek Sch Dist
- Harrison Comnty Schs
- Coldwater Comnty Schs
- Mount Pleasant Pub Schs
- Grand Ledge Pub Schs
- Cedar Springs Pub Schs
- Calumet-Laurium-Keweenaw Pub Schs
- Hart Pub Schs
- Hesperia Comnty Schs
- Chelsea Sch Dist
- Ionia Pub Sch Dist
- Albion Pub Schs
- Hastings Area Sch Sys
- Ewen-Trout Creek Cons Sch Dist
- Hemlock Pub Sch Dist
- Hopkins Pub Schs
- Gladstone Area Schs
- Hillman Comnty Schs
- Inkster Sch Dist
- Lamphere Schs
- Clinton Comnty Schs
- Highland Pk Sch Dist
- Clawson Pub Schs
- East China Sch Dist
- Lanse Area Schs
- Grand Haven Area Pub Schs
- Madison Sch Dist
- Holton Pub Schs
- Boyne Falls Pub Schs
- Decatur Pub Schs
- Akron-Fairgrove Schs
- Manistee Area Pub Schs
- De Tour Area Schs
- Jonesville Comnty Schs
- Augres-Sims Sch Dist
- Center Line Pub Schs
- Grass Lake Comnty Schs
- Elkton-Pigeon-Bay Port Schs
- Brown City Comnty Schs
- Grand Blanc Comnty Sch
- Dowagiac Un Sch Dist
- Kingston Comnty Schs
- Bangor Twp Sch Dist
- Flushing Comnty Schs
- Fennville Pub Schs
- Bentley Comnty Sch Dist
- Mayville Comnty Schs
- Dollar Bay-Tamarack City Area Schs
- Bendle Pub Schs
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