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Summary: Brownstown Charter Township, Michigan; General Obligation Jan 12
Standard & Poors, January 2012
Standard & Poor's Ratings Services has assigned its 'A+' long-term rating to Brownstown Charter Township, Mich.'s general obligation (GO) 2012 downtown development limited-tax development bonds. At the same time, Standard & Poor's affirmed its 'A+' long-term rating and underlying rating (SPUR) on the township's and Brownstown Charter Township Building Authority's previously issued GO debt. The rating outlook is stable. The rating reflects our assessment of the township's: Participation in the Detroit metropolitan statistical area (MSA) economy, with significantly lower unemployment rate than surrounding areas; Strong income levels; Maintenance of very strong reserves; and Moderate debt burden. Partially offsetting these credit strengths, in our opinion, is Brownstown Charter Township's declining tax base. The bonds are secured by a pledge of tax...
Companies mentioned in this report are: Brownstown Charter Twp
Action: New Rating
Action: Outlook: Stable
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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.
Brownstown Charter Twp