Bay County, MI GO Bond Rating Affirmed At 'AA', Placed On CreditWatch With Negative Implications

CHICAGO (S&P Global Ratings) Feb. 14, 2020--S&P Global Ratings placed its 'AA' rating on Bay County, Mich.'s outstanding GO debt on Credit Watch with negative implications while we assess the trajectory of the county's financial position. In order to perform this assessment, we need to receive updated information from the county specifically regarding its financial position. "The CreditWatch placement reflects our view that without receipt of sufficient information we will likely downgrade or withdraw the rating due to our deteriorated view of management and our inability to assess the trajectory of the county's credit quality going forward, particularly any challenges they may be facing and how they plan to respond," said S&P Global Ratings credit analyst Bobby Otter. In this

...February 14, 2020 CHICAGO (S&P Global Ratings) Feb. 14, 2020--S&P Global Ratings placed its '##' rating on Bay County, Mich.'s outstanding GO debt on Credit Watch with negative implications while we assess the trajectory of the county's financial position. In order to perform this assessment, we need to receive updated information from the county specifically regarding its financial position. "The CreditWatch placement reflects our view that without receipt of sufficient information we will likely downgrade or withdraw the rating due to our deteriorated view of management and our inability to assess the trajectory of the county's credit quality going forward, particularly any challenges they may be facing and how they plan to respond," said S&P Global Ratings credit analyst Bobby Otter. In this review of the county, we determined that we had sufficient financial information to affirm the '##' GO rating. However, we are approaching a point where without additional information we will be...

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