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North Gratiot Interceptor Drain Drainage District, MI's Bonds Rated 'AAA' Nov 06
Standard & Poors, November 2006
CHICAGO (Standard & Poor's) Nov. 22, 2006-Standard & 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
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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.