Macomb County Building Authority, Michigan Macomb County; Appropriation, General Obligation Equivalent Security; Tax Secured, General Obligation; Tax Secured, Non-School State Programs Nov 05

Standard & Poors, November 2005

Abstract
The 'AAA' rating on Macomb County Building Authority, Mich.'s limited-tax GO bonds series 2005 and limited-tax GO refunding bonds, both 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. The bonds are secured by the county's full faith and credit pledge. Proceeds of the refunding bonds will be used to refund series 2000 limited-tax GO building authority bonds. Proceeds of the building authority bonds will be used to construct a district court facility and for a radio tower project. Macomb County...

Companies mentioned in this report are: Macomb Cnty,Macomb Cnty Bldg Auth
Action: New Rating

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: Full Analysis

Macomb Cnty,Macomb Cnty Bldg Auth

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