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Byron Center Public Schools, MI's Bonds Rated 'AAA' and 'A+' (SPUR); Outlook Stable Oct 01
Standard & Poors, Oct 2001
Abstract
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
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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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