Macomb County, Michigan; General Obligation; General Obligation Equivalent Security; Non-School State Programs May 08

Standard & Poors, May 2008

Abstract
The 'AAA' rating on Macomb County, Mich.'s series 2008 transportation fund refunding bonds (backed by the county's limited-tax GO pledge) reflects the county's: Deep economic base and participation in the Detroit metropolitan area; Diversifying employment base; Strong general fund reserve levels, further strengthened by additional liquidity found in the delinquent tax revolving fund and taxing flexibility; and Moderate debt burden. Proceeds of the series 2008 bonds will refund previously issued bonds for interest cost savings. State-collected motor fuel taxes secure the bonds, but the county's limited-tax full faith and credit GO pledge provides additional security. Macomb County (estimated population: 831,000) is on the northern edge of Detroit, providing residents easy access to significant job opportunities throughout the metropolitan area. The...

Companies mentioned in this report are: Macomb Cnty,Macomb Cnty Bldg Auth,Seventeen Mile Rd & Branches Dr Dist,Busch Drain Drain Dist,Plumbrook Br Replacement Dr Drainage Dist,Hayes Dr Drainage Dist,Hawken Dr Drainage Dist,Lake St. Clair Clean Wtr Initiative,Seventeen Mile Extension Dr Drainage Dist,North Gratiot Interceptor Dr Drainage Dist
Action: New Rating

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Research Type: Full Analysis

Macomb Cnty,Macomb Cnty Bldg Auth,Seventeen Mile Rd & Branches Dr Dist,Busch Drain Drain Dist,Plumbrook Br Replacement Dr Drainage Dist,Hayes Dr Drainage Dist,Hawken Dr Drainage Dist,Lake St. Clair Clean Wtr Initiative,Seventeen Mile Extension Dr Drainage Dist,North Gratiot Interceptor Dr Drainage Dist

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