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Summary: Detroit School District, Michigan; School State Program Dec 09 Product Image

Summary: Detroit School District, Michigan; School State Program Dec 09

  • Published: December 2009
  • Standard & Poors

FEATURED COMPANIES

Abstract
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: Affirmed
Action: New Rating
Action: Outlook: Stable

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Detroit Sch Dist

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