NEW YORK (Standard & Poor's) Oct. 18, 2001--Standard & Poor's today assigned its triple-'A' rating and its underlying single-'A'-plus rating (SPUR) to Byron Center Public Schools, Mich.'s $47.1 million unlimited-tax school building and site bonds due May 1, 2031. In addition, Standard & Poor's affirmed its triple-'A' rating on the district's outstanding debt. The triple-'A' rating reflects the security of the Michigan School Bond Loan Fund. The SPUR reflects the following credit strengths: -- The district's proximity to Grand Rapids and participation in the strong Kent County (triple-'A' GO rating) area economy; -- Solid growth in the district's tax base, which has a $1.2 billion estimated market value; and -- Strong financial condition, with unreserved balances measuring 25% of fiscal...
Companies mentioned in this report are: Byron Ctr Pub Schs
Action: New Rating
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Research type: News
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