North Gratiot Interceptor Drain Drainage District, Michigan Macomb County; General Obligation; General Obligation Equivalent Security; Non-School State Programs Nov 06
- ID: 2085110
- November 2006
- Region: Michigan
- Standard & Poors
The 'AAA' rating on North Gratiot Interceptor Drain Drainage District, Mich.'s series 2006A bonds, issued for Macomb County, 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. In addition, the 'AAA' rating on the county's previously issued debt has been affirmed. Proceeds will be used to fund are a large interceptor project to handle flows from the growing communities of Lenox Township and New Haven Village. The bonds are secured by the payments of special assessments from the benefiting communities, but ultimately secured by 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
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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,Seventeen Mile Extension Dr Drainage Dist,North Gratiot Interceptor Dr Drainage Dist