Summary: Comstock Pk Pub Schs, MI; Tax Secured, School State Program Jan 03

Standard & Poors, January 2003

Abstract
The 'AAA' enhanced rating on Comstock Park Public Schools, Mich.'s series 2003 unlimited-tax GO refunding bonds reflects the additional security provided by the Michigan School Bond Loan Fund. Section 16 of Article 9 of Michigan's 1963 Constitution 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 state treasurer is notified. The treasurer pays the required debt service, and payment to bondholders is uninterrupted. If the balance in the state's loan fund is insufficient to cover obligations, the state is required to make loans from the general fund. Since the fund...

Companies mentioned in this report are: Comstock Pk Pub Schs
Action: New Rating

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.

Comstock Pk Pub Schs

Customers who bought this item also bought

• Government Investment Pools Report
• Charter Schools - Global Outlook
• Higher Education Interlibrary Loan Management Benchmarks, 2013 Edition
• Technical Education in India
• Fund Governance: Legal Duties of Investment Company Directors.
• Global Resource Sharing
• Library Use of eBooks, 2013 Edition
• The Survey of Distance Learning Programs in Higher Education, 2010 Edition
• Museum Educator's Handbook
• The Survey of Library Employee Training Practices