Summary: Pigeon River Intercounty Drainage District, Michigan; General Obligation; General Obligation Equivalent Security Oct 12
- Language: English
- Published: October 2012
- Region: Michigan
Standard & Poor's Ratings Services has assigned its 'AAA' long-term rating to Oakland-Macomb Interceptor Drain Drainage District, Mich.'s series 2010B bonds, which are secured by both Macomb County's and Oakland County's limited-tax, full faith and credit general obligation (GO) pledges. We also have affirmed our 'AAA' long-term rating on Macomb County's limited-tax GO bonds. We recently affirmed our 'AAA' long-term rating on Oakland County's GO bonds. In our opinion, the rating reflects Macomb County's: Deep economic base and participation in the Detroit metropolitan statistical area (MSA), though challenged by the current economic downturn and job losses; Maintenance of strong general fund reserve levels, despite challenges posed by this current revenue climate; Good management practices; Additional liquidity found in the delinquent...
Companies mentioned in this report are: Macomb Cnty,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 ,Oakland-Macomb Interceptor Dr Drainage Dist
Action: New Rating
Action: Outlook: Stable
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Macomb Cnty,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 ,Oakland-Macomb Interceptor Dr Drainage Dist