Summary: Harbor Springs Public Schools, Michigan; General Obligation Jan 12
- ID: 2046325
- January 2012
- Region: Michigan
- Standard & Poors
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: New Rating
Action: Outlook: Stable
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 >