North Gratiot Interceptor Drain Drainage District, MI's Bonds Rated 'AAA' Nov 06
- ID: 2084680
- November 2006
- Standard & Poors
CHICAGO (Standard & Poor's) Nov. 22, 2006Standard & Poor's Ratings Services has assigned its 'AAA' rating to North Gratiot Interceptor Drain Drainage District, Mich.'s $3.38 million series 2006A bonds, issued for Macomb County. The bonds are expected to sell on Nov. 28. The outlook is stable. At the same time, the rating service affirmed its 'AAA' rating on the county's previously issued debt. The rating reflects the county's deep economic base and participation in the Detroit MSA; continued strong economic growth, along with diversification of its employment base; strong management performance; strong financial performance, resulting in high reserve levels; and moderate debt burden, supported by diverse non-ad valorem revenues. "We expect that the county will continue to diversify economically while...
Companies mentioned in this report are:
- Macomb Cnty
Action: New Rating
Action: Outlook: Stable
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Research type: News
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