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

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

  • Published: December 2003
  • Region: Michigan
  • Standard & Poors

FEATURED COMPANIES

  • Airport Comnty Schs
  • Center Line Pub Schs
  • Fremont Pub Schs
  • Jonesville Comnty Schs
  • North Branch Area Schs
  • Sault Ste Marie Area Schs
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Abstract
The ratings on bonds participating in the Michigan State School Bond Loan Fund Program are lowered and removed from CreditWatch, reflecting the downgrade on the state's GO rating. Section 16 of Article 9 of Michigan's constitution (adopted in 1963) created the Michigan School Bond Loan Fund Program to provide districts 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 or...

Action: Downgraded, Off CreditWatch

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 READ MORE >

- Allegan Pub Sch
- Saginaw Twp Comnty Sch Dist
- Romulus Comnty Sch
- Royal Oak Sch Dist
- Romeo Comnty Sch Dist
- Rochester Comnty Sch Dist
- Rapid River Pub Schs
- Portland Pub Schs
- Port Huron Area Sch Dist
- Plymouth-Canton Comnty Sch
- Pennfield Schs
- Paw Paw Pub Sch
- Owendale-Gagetown Area Sch Dist
- Okemos Pub Schs
- Northville Pub Schs
- Northview Pub Schs
- North Branch Area Schs
- Munising Pub Schs
- Morenci Area Schs
- Mona Shores Pub Schs
- Milan Area Sch Dist
- Merrill Comnty Sch Dist
- Mattawan Cons Sch
- Mancelona Pub Sch
- Lawton Comnty Schs
- Lakeville Comnty Sch Dist
- Lake Orion Comnty Sch Dist
- L'anse Creuse Pub Schs
- Kenowa Hills Pub Schs
- Jackson Pub Schs
- Huron Sch Dist
- Hudsonville Pub Schs
- Howell Pub Schs
- Holt Pub Schs
- Hazel Pk Sch Dist
- Hartland Cons Schs
- Harper Creek Comnty Schs
- 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
- Galesburg-Augusta Comnty Sch Dist
- Fremont Pub Schs
- Freeland Comnty Sch Dist
- Fraser Pub Sch Dist
- Frankenmuth Sch Dist
- Fowlerville Comnty Schs
- Forest Hills Pub Schs
- Elk Rapids Schs
- East Grand Rapids Pub Schs
- Dryden Comnty Schs
- Dexter Comnty Schs
- Clarkston Comnty Schs
- Chippewa Vy Schs
- Charlevoix Pub Schs
- Central Montcalm Pub Sch
- Caseville Pub Sch Dist
- Caledonia Comnty Schs
- Byron Ctr Pub Schs
- Buchanan Comnty Schs
- Brighton Area Schs
- Brandywine Comnty Schs
- Brandon Sch Dist
- Big Rapids Pub Schs
- Bay City Sch Dist
- Avondale Sch Dist
- Atlanta Comnty Sch Dist
- Armada Area Sch
- Ann Arbor Pub Sch
- Wyoming Pub Schs
- Willow Run Comnty Sch
- West Branch-Rose City Area Sch
- Wayland Un Sch Dist
- Waterford Sch Dist
- Warren Woods Pub Schs
- Tecumseh Pub Schs
- Southfield Pub Schs
- Saline Area Schs
- St Louis Pub Schs
- Perry Pub Schs
- Lake Shore Pub Schs (Macomb Cnty)
- Walled Lake Cons Sch Dist
- Lake Fenton Comnty Schs
- Allendale Pub Schs
- Saranac Comnty Schs
- Clintondale Comnty Schs
- Beaverton Rural Sch
- Negaunee Pub Schs
- Carrollton Pub Schs
- Fenton Area Pub Schs
- Rockford Pub Schs
- Grant Pub Schs
- Haslett Pub Schs
- Ferndale Pub Schs
- Buckley Comnty Schs
- Gladwin Comnty Schs
- Thornapple Kellogg Sch Dist
- DeWitt Pub Schs
- Zeeland Pub Schs
- Vestaburg Comnty Sch
- Swan Vy Sch Dist
- Shelby Pub Sch Dist
- Hancock Pub Sch Dist
- Lakeview Comnty Schs
- Houghton-Portage Twp Sch Dist
- Breitung Twp Sch Dist
- Wayne-Westland Comnty Schs
- Quincy Comnty Schs
- Bath Comnty Schs
- Hudson Area Schs
- Meridian Pub Schs
- Dundee Comnty Schs
- South Lyon Comnty Schs
- Anchor Bay Sch Dist
- Williamston Comnty Sch Dist
- Schoolcraft Comnty Schs
- Charlotte Pub Schs
- Newaygo Pub Schs
- Webberville Comnty Schs
- Inland Lakes Sch Dist
- Lakeview Pub Schs
- Whitmore Lake Pub Sch Dist
- Farmington Pub Sch Dist
- Chesaning Un Schs
- Oak Pk Sch Dist
- Comstock Pk Pub Schs
- Pittsford Area Schs
- Rudyard Area Schs
- Harper Woods Sch Dist
- Escanaba Area Pub Sch
- St Ignace Area Schs
- Reeths-Puffer Schs
- White Cloud Pub Schs
- North Muskegon Pub Schs
- Mid Peninsula Sch Dist
- Lowell Area Sch Dist
- Menominee Area Pub Schs
- Superior Cent Sch Dist
- Olivet Comnty Schs
- Chassell Twp Schs
- Brimley Area Schs
- South Lake Schs
- Fitzgerald Pub Schs
- Spring Lake Pub Schs
- Huron Vy Sch Dist
- Vicksburg Comnty Schs
- Buena Vista Sch Dist
- Alma Pub Schs
- Wyandotte City Sch Dist
- Imlay City Comnty Schs
- Allen Pk Pub Schs
- West Iron Cnty Pub Schs
- Belding Area Schs
- Croswell-Lexington Comnty Schs
- Whitehall Dist Schs
- West Ottawa Pub Schs
- Saugatuck Pub Schs
- Pellston Pub Schs
- Airport Comnty Schs
- Reading Comnty Schs
- Sturgis Pub Sch Dist
- Mendon Comnty Schs
- Edwardsburg Pub Schs
- Wolverine Comnty Sch Dist
- Mason Cnty Cent Sch Dist
- Holly Area Sch Dist
- Yale Pub Schs
- Montague Area Pub Schs
- Bad Axe Pub Sch
- Marshall Pub Schs
- Bullock Creek Sch Dist
- Mason Cnty Eastern Sch Dist
- Coldwater Comnty Schs
- Mount Pleasant Pub Schs
- Shepherd Pub Schs
- Cedar Springs Pub Schs
- Calumet-Laurium-Keweenaw Pub Schs
- Lakeshore Pub Schs
- Ovid-Elsie Area Schs
- Pine River Area Schs
- Ionia Pub Sch Dist
- Albion Pub Schs
- Hartford Pub Schs
- Flat Rock Comnty Schs
- Hemlock Pub Sch Dist
- Manton Con Sch
- Stockbridge Comnty Schs
- Lakewood Pub Schs
- Almont Comnty Schs
- Ontonagon Area Schs
- Pewamo-Westphalia Comnty Schs
- Fruitport Comnty Schs
- Clinton Comnty Schs
- Goodrich Area Schs
- East China Sch Dist
- Fairview Area Schs
- Lanse Area Schs
- Grand Haven Area Pub Schs
- Oakridge Pub Schs
- Plainwell Comnty Schs
- Woodhaven-Brownstown Sch Dist
- Kingsley Area Schs
- Birch Run Area Schs
- Southgate Comnty Sch Dist
- Sault Ste Marie Area Schs
- Akron-Fairgrove Schs
- Manistee Area Pub Schs
- De Tour Area Schs
- Jonesville Comnty Schs
- Center Line Pub Schs
- Lakeview Sch Dist
- Oscoda Area Schs
- Grass Lake Comnty Schs
- Elkton-Pigeon-Bay Port Schs
- St. Joseph Pub Schs
- Dowagiac Un Sch Dist
- Ironwood Area Schs
- Kingston Comnty Schs
- North Cent Area Schs
- Bridgeport-Spaulding Comnty Sch Dist
- Watersmeet Twp Sch Dist
- Concord Comnty Schs
- Constantine Pub Schs
- New Haven Comnty Schs
- Bangor Twp Sch Dist
- Orchard View Schs

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