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Macomb County, MI's Series 2008 Refunding Bonds Rated 'AAA' May 08
Standard & Poors, May 2008
CHICAGO (Standard & Poor's) May 7, 2008--Standard & Poor's Ratings Services has assigned its 'AAA' rating to Macomb County, Mich.'s $2.635 million series 2008 transportation fund refunding bonds (backed by the county's limited-tax GO pledge). The outlook is stable. At the same time, the rating services affirmed its 'AAA' rating on the county's parity debt. The rating 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. "We expect that favorable reserve levels will be maintained while management takes additional steps to return to structurally balanced financial operations. If 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,North Gratiot Interceptor Dr Drainage Dist
Action: New Rating
Action: Outlook: Stable
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Research type: News
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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,North Gratiot Interceptor Dr Drainage Dist