Summary: Holly Area Sch Dist, MI; Tax Secured, School State Program Jun 03

  • ID: 2038544
  • June 2003
  • Standard & Poors
1 of 3

The 'AAA' rating on Holly Area School District, Mich.'s school building and site bonds reflects the additional security provided by the Michigan School Bond Loan Fund. Section 16 of Article 9 of Michigan's 1963 constitution created the Michigan School Bond Loan Fund program to provide districts the 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 required to make loans from the general fund. Since the fund is...

Companies mentioned in this report are:
- Holly Area Sch Dist

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.

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.

Note: Product cover images may vary from those shown
2 of 3

- Holly Area Sch Dist

Note: Product cover images may vary from those shown
3 of 3
Note: Product cover images may vary from those shown





Our Clients

  • Fluidigm Corporation
  • Apple, Inc.
  • CEVA Santé Animale
  • Abbott Laboratories Ltd.
  • Merck Group
  • Allergan Inc.
  • Pfizer Inc.