Summary: Harbor Springs Public Schools, Michigan; General Obligation Jan 12

  • ID: 2046325
  • January 2012
  • Region: Michigan
  • Standard & Poors
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  • Harbor Springs Pub Schs
  • MORE

Standard & Poor's Ratings Services has assigned its 'AA' long-term rating to Harbor Springs Public Schools, Mich.'s series 2012 unlimited-tax general obligation (GO) school building and site bonds and affirmed its 'AA' long-term rating and underlying rating (SPUR) on the district's existing debt. The outlook on all ratings is stable. The ratings reflect our assessment of the district's: Stable seasonal, mostly residential, local economy; Strong income levels and extremely strong market value per capita, reflecting the high value of second homes and resort properties; Very strong reserves and solid financial performance as a result of its dependence on property taxes, rather than state aid, for a majority of revenues; and Low debt as a percent of market value. The preceding...

Companies mentioned in this report are:
- Harbor Springs Pub Schs

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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- Harbor Springs Pub Schs

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