Summary: Ypsilanti Community Utility Authority, Michigan Ypsilanti Township; General Obligation; General Obligation Equivalent Security Jun 12

Standard & Poors, June 2012

Abstract
Standard & Poor's Ratings Services has assigned its 'AA' long-term rating and stable outlook to Ypsilanti Community Utility Authority, Mich.'s series 2012 limited-tax general obligation (GO) bonds issued for Ypsilanti Township's water supply system no. 8. At the same time, Standard & Poor's affirmed its 'AA' long-term rating and underlying rating (SPUR) on the authority's previously issued limited-tax GO debt. The rating reflects our assessment of the township's: Participation in the Ann Arbor and Detroit metropolitan area; Good economic indicators; and Stable financial performance, with a high general fund balance. We believe the township's only adequate wealth indicator on a per capita market value basis is a limiting credit consideration. The series 2012 bonds are a limited-tax obligation of the...

Companies mentioned in this report are:
- Ypsilanti Twp
- Ypsilanti Comnty Utilites Auth
- Ypsilanti

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

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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.

- Ypsilanti Twp
- Ypsilanti Comnty Utilites Auth
- Ypsilanti

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