Ann Arbor, MI GO Debt Rating Raised To 'AAA' Robust Operations, Stronger Finances - S&P Global Ratings’ Credit Research

Ann Arbor, MI GO Debt Rating Raised To 'AAA' Robust Operations, Stronger Finances

Ann Arbor, MI GO Debt Rating Raised To 'AAA' Robust Operations, Stronger Finances - S&P Global Ratings’ Credit Research
Ann Arbor, MI GO Debt Rating Raised To 'AAA' Robust Operations, Stronger Finances
Published Jun 07, 2024
2 pages (1162 words) — Published Jun 07, 2024
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

CHICAGO (S&P Global Ratings) June 7, 2024--S&P Global Rating raised its long-term rating to 'AAA' from 'AA+' on Ann Arbor, Mich.'s limited-tax general obligation (LTGO) debt. At the same time, we assigned our 'AAA' rating to the city's $9.0 million 2024 LTGO capital improvement bonds. The outlook is stable. "The upgrade reflects Ann Arbor's trend of robust operating performance and strengthened financial position that are commensurate with the higher rating," said S&P Global Ratings credit analyst John Kennedy. Continued strong economic development also help mitigate risks from tax levy caps and the relatively large amount of tax-exempt property within the city. The city's LTGO bonds are secured by its limited ad valorem tax GO pledge. We rate the LTGO debt

  
Brief Excerpt:

...June 7, 2024 CHICAGO (S&P Global Ratings) June 7, 2024--S&P Global Rating raised its long-term rating to '###' from '##+' on Ann Arbor, Mich.'s limited-tax general obligation (LTGO) debt. At the same time, we assigned our '###' rating to the city's $9.0 million 2024 LTGO capital improvement bonds. The outlook is stable. "The upgrade reflects Ann Arbor's trend of robust operating performance and strengthened financial position that are commensurate with the higher rating," said S&P Global Ratings credit analyst John Kennedy. Continued strong economic development also help mitigate risks from tax levy caps and the relatively large amount of tax-exempt property within the city. The city's LTGO bonds are secured by its limited ad valorem tax GO pledge. We rate the LTGO debt at the same level as the city's general creditworthiness, given that ad valorem taxes are collected from the city's entire tax base and because there are no limitations on the fungibility of resources available for debt...

  
Report Type:

Ratings Action

Issuer
Ann Arbor
Sector
Public Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Ann Arbor, MI GO Debt Rating Raised To 'AAA' Robust Operations, Stronger Finances" Jun 07, 2024. Alacra Store. Nov 06, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Ann-Arbor-MI-GO-Debt-Rating-Raised-To-AAA-Robust-Operations-Stronger-Finances-3193874>
  
APA:
S&P Global Ratings’ Credit Research. (). Ann Arbor, MI GO Debt Rating Raised To 'AAA' Robust Operations, Stronger Finances Jun 07, 2024. New York, NY: Alacra Store. Retrieved Nov 06, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Ann-Arbor-MI-GO-Debt-Rating-Raised-To-AAA-Robust-Operations-Stronger-Finances-3193874>
  
US$ 150.00
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