Summary: Waterford Charter Township, Michigan; General Obligation May 07

Standard & Poors, May 2007

Abstract
Standard & Poor's Ratings Services assigned its 'AA-' rating, and stable outlook, to Waterford Charter Township, Mich.'s series 2007B and 2007C capital improvement bonds. At the same time, Standard & Poor's affirmed its 'AA-' rating and 'AA-' underlying rating (SPUR) on the township's existing GO bonds. The outlook is stable. The 'AA-' rating reflects the township's: Affluent, largely residential local economy located within Oakland County; Above-average wealth and income levels; Steady tax base growth, despite the township's mostly built-out nature; and Moderate debt burden. Mitigating these strengths is the township's weakened financial position, although it has recently stabilized due to a positive financial performance in fiscals 2004 and 2005. The series 2007B bonds will be used for capital improvements to...

Companies mentioned in this report are: Waterford Charter Twp
Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Waterford Charter Twp

Customers who bought this item also bought

• Charter Schools - Global Outlook
• Charter Schools: History, Politics, Policies, Economics & Effectiveness, Second Edition
• 2012 America's Neighborhoods-Zip Code 08234 for Egg Harbor Township, NJ report
• 2012 America's Neighborhoods-Zip Code 08831 for Monroe Township, NJ report
• The Survey of Library Cafes, 2012-13 Edition
• Redesigning the Public Library Building
• Driven by Data. A Practical Guide to Improve Instruction
• Fund Governance: Legal Duties of Investment Company Directors.
• Mission Possible. How the Secrets of the Success Academies Can Work in Any School
• Stop the School Bus. Getting Education Reform Back on Track