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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

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

FEATURED COMPANIES

  • Airport Comnty Schs
  • Charlevoix Pub Schs
  • Gladstone Area Schs
  • Kingston Comnty Schs
  • North Muskegon Pub Schs
  • Saugatuck Pub 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.

- Allegan Pub Sch
- Saginaw Twp Comnty Sch Dist
- Romulus Comnty Sch
- Royal Oak Sch Dist
- Romeo Comnty Sch Dist
- Rochester Comnty Sch Dist
- Reese Pub Schs
- Redford Un Sch Dist #1
- Rapid River Pub Schs
- Portland Pub Schs
- Port Huron Area Sch Dist
- Plymouth-Canton Comnty Sch
- Pennfield Schs
- Paw Paw Pub Sch
- Parchment Sch Dist
- Owendale-Gagetown Area Sch Dist
- Onsted Comnty Sch
- Okemos Pub Schs
- Northville Pub Schs
- Northview Pub Schs
- North Branch Area Schs
- New Lothrop Area Pub Schs
- Muskegon Hgts Sch Dist
- Muskegon Pub Schs
- Munising Pub Schs
- Morenci Area Schs
- Montabella Comnty Schs
- Milan Area Sch Dist
- Merrill Comnty Sch Dist
- Mattawan Cons Sch
- Marysville Pub Schs
- Mancelona Pub Sch
- Lincoln Cons Sch Dist
- Lawton Comnty Schs
- Lansing Sch Dist
- 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
- Durand Area Schs
- Dryden Comnty Schs
- Dexter Comnty Schs
- Detroit Pub Schs
- Clarkston Comnty Schs
- Chippewa Vy Schs
- Charlevoix Pub Schs
- Central Montcalm Pub Sch
- Caseville Pub Sch Dist
- Caledonia Comnty Schs
- Cadillac Area Pub 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
- Alpena Pub Schs
- Ypsilanti Sch Dist
- Wyoming Pub Schs
- Willow Run Comnty Sch
- West Branch-Rose City Area Sch
- Wayland Un Sch Dist
- Waterford Sch Dist
- Warren Woods Pub Schs
- Utica Comnty Schs
- Troy Sch Dist
- Tecumseh Pub Schs
- Southfield Pub Schs
- Saline Area Schs
- St Louis Pub Schs
- St. Johns 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
- Pontiac Sch Dist
- Beaverton Rural Sch
- Negaunee Pub Schs
- Coopersville Area Pub Schs
- Dearborn Sch Dist
- 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
- Novi Comnty Sch Dist
- 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
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- Schoolcraft Comnty Schs
- Charlotte Pub Schs
- Newaygo Pub Schs
- Roseville Comnty 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
- Ubly Comnty Schs
- Otsego Pub Schs
- 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
- Harrison Comnty Schs
- Coldwater Comnty Schs
- Mount Pleasant Pub Schs
- Shepherd Pub Schs
- Springport Pub Schs
- Grand Ledge Pub Schs
- Cedar Springs Pub Schs
- Calumet-Laurium-Keweenaw Pub Schs
- Hart Pub Schs
- Lakeshore Pub Schs
- Ovid-Elsie Area Schs
- Pine River Area Schs
- Ionia Pub Sch Dist
- Albion Pub Schs
- Hastings Area Sch Sys
- 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
- Gladstone Area Schs
- Inkster Sch Dist
- Pewamo-Westphalia Comnty Schs
- Clinton Comnty Schs
- Goodrich Area Schs
- East China Sch Dist
- Lanse Area Schs
- Grand Haven Area Pub Schs
- Madison Sch Dist
- Holton Pub Schs
- Oakridge Pub Schs
- Plainwell Comnty Schs
- Woodhaven-Brownstown Sch Dist
- Boyne Falls Pub Schs
- Decatur Pub Schs
- Kingsley Area Schs
- Ravenna Pub 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
- Brown City Comnty Schs
- St. Joseph Pub Schs
- Atherton Comnty 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
- Hopkins Pub Schs
- Hesperia Comnty Schs
- Whittemore-Prescott Area Sch Dist

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