- Language: English
- Published: April 2013
- Region: Michigan
Summary: Sterling Hgts, MI; Appropriation, General Obligation Equivalent Security; Tax Secured, General Obligation Oct 03
- ID: 2039503
- October 2003
- Standard & Poors
The 'AA' rating on Sterling Heights Building Authority, Mich.'s limited-tax GO refunding bonds and other debt secured by the city's GO pledge reflects: A deep tax and employment base participating in the growing Detroit MSA; Strong financial management, which has steadily built and maintained liquidity through economic cycles; and Moderate debt levels. A diminishing but significant reliance on the transportation industry limits these strengths. Located 18 miles north of Detroit in rapidly growing Macomb County, Sterling Heights is benefiting from the expansion of current local employers and additional retail and commercial development. Growth in taxable value continues to average 9% annually to $5.5 billion in fiscal 2003, reflecting trends during the past decade. Market value has grown more rapidly to...
Companies mentioned in this report are: Sterling Hgts,Sterling Hgts Bldg Auth
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.
SHOW LESS READ MORE >
Sterling Hgts,Sterling Hgts Bldg Auth