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Summary: Michigan St Sch Bnd Ln Fd Prog; Tax Secured, School State Program Dec 03

  • ID: 2042095
  • December 2003
  • Region: Michigan
  • Standard & Poors
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FEATURED COMPANIES

  • Airport Comnty Schs
  • Charlotte Pub Schs
  • Genesee Sch Dist
  • Kenowa Hills Pub Schs
  • Niles Comnty Schs
  • Saline Area Schs
  • MORE

Abstract
The 'AAA' and 'AA+' ratings on debt backed by the state of Michigan's GO and annual appropriation pledges have been placed on CreditWatch with negative implications pending the resolution of the state's current budget gap. The state had anticipated ending fiscal 2003 with a $350 million general fund balance, which would allow the state to put $75 million back into the budget stabilization reserve, keep $60 million in the Medicaid trust fund, and place an additional $75 million into a new school reserve fund. After the October revenue revisions, the state now expects to end fiscal 2003 with only about $58 million, placing the anticipated 2004 reserves in jeopardy even before considering the $595 million shortfall in 2004. How the...

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.

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- Allegan Pub Sch
- Saginaw Twp Comnty Sch Dist
- Romulus Comnty Sch
- Royal Oak Sch Dist
- Reese Pub Schs
- Plymouth-Canton Comnty Sch
- Pennfield Schs
- Parchment Sch Dist
- Onsted Comnty Sch
- Okemos Pub Schs
- Northville Pub Schs
- Northview Pub Schs
- Niles Comnty Schs
- Morenci Area Schs
- Mancelona Pub Sch
- Lakeville Comnty Sch Dist
- Lake Orion Comnty Sch Dist
- L'anse Creuse Pub Schs
- Jackson Pub Schs
- Huron Sch Dist
- Hudsonville Pub Schs
- Howell Pub Schs
- Holt Pub Schs
- Hartland Cons Schs
- Fremont Pub Schs
- Elk Rapids Schs
- East Grand Rapids Pub Schs
- Detroit Pub Schs
- Chippewa Vy Schs
- Central Montcalm Pub Sch
- Buchanan Comnty Schs
- Bay City Sch Dist
- Armada Area Sch
- Alpena Pub Schs
- Wyoming Pub Schs
- Willow Run Comnty Sch
- Wayland Un Sch Dist
- Warren Woods Pub Schs
- Utica Comnty Schs
- Troy Sch Dist
- Tecumseh Pub Schs
- Saline Area Schs
- St Louis Pub Schs
- St. Johns Pub Schs
- Perry Pub Schs
- Lake Fenton Comnty Schs
- Negaunee Pub Schs
- Coopersville Area Pub Schs
- Dearborn Sch Dist
- Crawford AuSable Sch Dist
- Haslett Pub Schs
- Buckley Comnty Schs
- Gladwin Comnty Schs
- Novi Comnty Sch Dist
- Vestaburg Comnty Sch
- Swan Vy Sch Dist
- Shelby Pub Sch Dist
- Hancock Pub Sch Dist
- Lakeview Comnty Schs
- Bath Comnty Schs
- Hudson Area Schs
- Williamston Comnty Sch Dist
- Webberville Comnty Schs
- Chesaning Un Schs
- Oak Pk Sch Dist
- Comstock Pk Pub Schs
- Rudyard Area Schs
- Escanaba Area Pub Sch
- St Ignace Area Schs
- Reeths-Puffer Schs
- Menominee Area Pub Schs
- Superior Cent Sch Dist
- Olivet Comnty Schs
- South Lake Schs
- Fitzgerald Pub Schs
- Spring Lake Pub Schs
- Huron Vy Sch Dist
- Vicksburg Comnty Schs
- Saugatuck Pub Schs
- Pellston Pub Schs
- Airport Comnty Schs
- Sturgis Pub Sch Dist
- Mendon Comnty Schs
- Wolverine Comnty Sch Dist
- Cedar Springs Pub Schs
- Calumet-Laurium-Keweenaw Pub Schs
- Hesperia Comnty Schs
- Lakeshore Pub Schs
- Ovid-Elsie Area Schs
- Pine River Area Schs
- Hastings Area Sch Sys
- Hartford Pub Schs
- Lakewood Pub Schs
- Almont Comnty Schs
- Ontonagon Area Schs
- Gladstone Area Schs
- Inkster Sch Dist
- Pewamo-Westphalia Comnty Schs
- Kent City Comnty Schs
- Clinton Comnty Schs
- Grand Haven Area Pub Schs
- Holton Pub Schs
- Oakridge Pub Schs
- Plainwell Comnty Schs
- Woodhaven-Brownstown Sch Dist
- Kingsley Area Schs
- Birch Run Area Schs
- Southgate Comnty Sch Dist
- Akron-Fairgrove Schs
- Jonesville Comnty Schs
- Lakeview Sch Dist
- Clare Pub schs
- Oscoda Area Schs
- Grass Lake Comnty Schs
- Elkton-Pigeon-Bay Port Schs
- Brown City Comnty Schs
- Kingston Comnty Schs
- North Cent Area Schs
- Bridgeport-Spaulding Comnty Sch Dist
- Concord Comnty Schs
- New Haven Comnty Schs
- Orchard View Schs
- Rochester Comnty Sch Dist
- Redford Un Sch Dist #1
- Rapid River Pub Schs
- Portland Pub Schs
- Port Huron Area Sch Dist
- Paw Paw Pub Sch
- Owendale-Gagetown Area Sch Dist
- North Branch Area Schs
- New Lothrop Area Pub Schs
- Muskegon Hgts Sch Dist
- Muskegon Pub Schs
- Munising Pub Schs
- Montabella Comnty Schs
- Milan Area Sch Dist
- Merrill Comnty Sch Dist
- Meridian Pub Schs
- Mattawan Cons Sch
- Marysville Pub Schs
- Lincoln Cons Sch Dist
- Lawton Comnty Sch
- Lansing Sch Dist
- Kenowa Hills Pub Schs
- Hazel Pk Sch Dist
- Harper Creek Comnty Schs
- Harper Woods Sch Dist
- Harbor Springs Pub Schs
- Hanover-Horton Sch
- Hamilton Comnty Schs
- Greenville Pub Schs
- Gibraltar Sch Dist
- Genesee Sch Dist
- Gaylord Comnty Sch
- Garden City Sch Dist
- Freeland Comnty Sch Dist
- Fraser Pub Sch Dist
- Fowlerville Comnty Schs
- Forest Hills Pub Schs
- Durand Area Schs
- Dundee Comnty Schs
- Dryden Comnty Schs
- Dexter Comnty Schs
- DeWitt Pub Schs
- Corunna Pub Schs
- Clarkston Comnty Schs
- Charlevoix Pub Schs
- Charlotte Pub Schs
- Caseville Pub Sch Dist
- Carsonville Port Sanilac Schs
- Caledonia Comnty Schs
- Cadillac Area Pub Schs
- Byron Ctr Pub Schs
- Brighton Area Schs
- Brimley Area Schs
- Brandywine Comnty Schs
- Brandon Sch Dist
- Big Rapids Pub Schs
- Avondale Sch Dist
- Ann Arbor Pub Sch
- Ypsilanti Sch Dist
- West Branch-Rose City Area Sch
- Waterford Sch Dist
- Southfield Pub Schs
- Lake Shore Pub Schs (Macomb Cnty)
- Allendale Pub Schs
- Saranac Comnty Schs
- Clintondale Comnty Schs
- Beaverton Rural Sch
- Carrollton Pub Schs
- Fenton Area Pub Schs
- Thornapple Kellogg Sch Dist
- Zeeland Pub Schs
- South Lyon Comnty Schs
- Schoolcraft Comnty Schs
- Roseville Comnty Schs
- Pittsford Area Schs
- Mid Peninsula Sch Dist
- Lowell Area Sch Dist
- Chassell Twp Schs
- West Ottawa Pub Schs
- Reading Comnty Schs
- Hart Pub Schs
- Ionia Pub Sch Dist
- Flat Rock Comnty Schs
- Whittemore-Prescott Area Sch Dist
- Hopkins Pub Schs
- Essexville-Hampton Pub Schs
- Goodrich Area Schs
- East China Sch Dist
- Lanse Area Schs
- Madison Sch Dist
- Boyne Falls Pub Schs
- Decatur Pub Schs
- Ravenna Pub Schs
- Sault Ste Marie Area Schs
- Manistee Area Pub Schs
- De Tour Area Schs
- Center Line Pub Schs
- St. Joseph Pub Schs
- Atherton Comnty Schs
- Dowagiac Un Sch Dist
- Ironwood Area Schs
- Watersmeet Twp Sch Dist
- Constantine Pub Schs
- Bangor Twp Sch Dist
- Walled Lake Cons Sch Dist
- Grant Pub Schs
- Ferndale Pub Schs
- Lakeview Pub Schs
- Buena Vista Sch Dist
- Alma Pub Schs
- Wyandotte City Sch Dist
- Ubly Comnty Schs
- Otsego Pub Schs
- Allen Pk Pub Schs
- West Iron Cnty Pub Schs
- Belding Area Schs
- Croswell-Lexington Comnty Schs
- Whitehall Dist Schs
- Edwardsburg Pub Schs
- Holly Area Sch Dist
- Yale Pub Schs
- Bad Axe Pub Sch
- Marshall Pub Schs
- Bullock Creek Sch Dist
- Springport Pub Schs
- Grand Ledge Pub Schs
- Rockford Pub Schs
- Houghton-Portage Twp Sch Dist
- Breitung Twp Sch Dist
- Quincy Comnty Schs
- Inland Lakes Sch Dist
- Whitmore Lake Pub Sch Dist
- Farmington Pub Sch Dist
- North Muskegon Pub Schs
- Imlay City Comnty Schs
- Mason Cnty Cent Sch Dist
- Mason Cnty Eastern Sch Dist
- Montague Area Pub Schs
- Harrison Comnty Schs
- Coldwater Comnty Schs
- Mount Pleasant Pub Schs
- Shepherd Pub Schs

Note: Product cover images may vary from those shown
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