- Language: English
- 774 Pages
- Published: October 2012
- Region: World
Summary: Detroit School District, Michigan; School State Program Dec 09
- Published: December 2009
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'AA-' long-term rating, and stable outlook, to Detroit School District, Mich.'s series 2009A qualified school construction bonds, series 2009B Build America Bonds, and series 2009C tax-exempt bonds and affirmed its 'AA-' long-term rating and underlying rating (SPUR), with a stable outlook, on the district's existing debt. The rating reflects the district's eligibility for, and participation in, the Michigan State School Loan Bond program. Section 16 of Article 9 of Michigan's constitution (adopted in 1963) created the Michigan School Bond Loan Fund program to provide districts access to funds to avoid a default on qualified debt. Under this program, if a school district fails to meet its debt service obligation for qualified debt, the...
Companies mentioned in this report are: Detroit Sch Dist
Action: New Rating
Action: Outlook: Stable
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Detroit Sch Dist
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