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Summary: North Gratiot Interceptor Drain Drainage District, Michigan Macomb County; General Obligation; General Obligation Equivalent Security; Non-School State Programs Apr 10

  • ID: 2085329
  • April 2010
  • Region: Michigan
  • Standard & Poors
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FEATURED COMPANIES

  • Hawken Dr Drainage Dist
  • Hayes Dr Drainage Dist
  • Macomb Cnty
  • Macomb Cnty Bldg Auth
  • MORE

Abstract
Standard & Poor's Ratings Services has assigned its 'AAA' long-term rating to North Gratiot Interceptor Drain Drainage District, Mich.'s series 2010 limited-tax general obligation (GO) bonds, which are ultimately secured by Macomb County's limited-tax, full faith and credit general obligation (GO) pledge. We also have affirmed our 'AAA' long-term rating on Macomb County's previously issued 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 tax revolving fund; and Moderate debt burden. We recognize...

Companies mentioned in this report are:
- Macomb Cnty
- Macomb Cnty Bldg Auth
- 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: Affirmed
Action: New Rating
Action: Outlook: Stable

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Note: Product cover images may vary from those shown
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- Macomb Cnty
- Macomb Cnty Bldg Auth
- 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

Note: Product cover images may vary from those shown
3 of 3
Note: Product cover images may vary from those shown

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