Summary: Bay County, Michigan; General Obligation - S&P Global Ratings’ Credit Research

Summary: Bay County, Michigan; General Obligation

Summary: Bay County, Michigan; General Obligation - S&P Global Ratings’ Credit Research
Summary: Bay County, Michigan; General Obligation
Published Oct 19, 2021
7 pages (3117 words) — Published Oct 19, 2021
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

S&P Global Ratings revised the outlook to stable from negative and affirmed its 'AA-' rating on Bay County, Mich.'s general obligation (GO) bonds outstanding and Waldo&Branches Intercounty Drain Drainage District's bonds supported by the county. At the same time, S&P Global Ratings assigned its 'AA-' rating with a stable outlook to the Bay County Water Supply System's $29.2 million 2021 revenue refunding bonds. The outlook revision reflects our expectation that the county will maintain reserves at sufficient levels to offset potential credit stress created by a weaker economy that leads to what we view as reduced revenue-raising capabilities. A pledge of the net revenues from the Bay Area Water Treatment Plant and Raw Water Transmission Mains System as

  
Brief Excerpt:

...S&P Global Ratings revised the outlook to stable from negative and affirmed its '##-' rating on Bay County, Mich.'s general obligation (GO) bonds outstanding and Waldo & Branches Intercounty Drain Drainage District's bonds supported by the county. At the same time, S&P Global Ratings assigned its '##-' rating with a stable outlook to the Bay County Water Supply System's $29.2 million 2021 revenue refunding bonds. The outlook revision reflects our expectation that the county will maintain reserves at sufficient levels to offset potential credit stress created by a weaker economy that leads to what we view as reduced revenue-raising capabilities. A pledge of the net revenues from the Bay Area Water Treatment Plant and Raw Water Transmission Mains System as well as the county's full faith and credit pledge secure the series 2021 bonds. We rate to the county's pledge given the interconnectedness of the system to the county and its financial disclosures. The bonds will refund the county's 2013-B...

  
Report Type:

Summary

Issuer
Sector
Public Finance
Country
Region
Format:
PDF Adobe Acrobat
Buy Now

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.

About the Author


Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Summary: Bay County, Michigan; General Obligation" Oct 19, 2021. Alacra Store. Mar 29, 2024. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Bay-County-Michigan-General-Obligation-2740584>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Bay County, Michigan; General Obligation Oct 19, 2021. New York, NY: Alacra Store. Retrieved Mar 29, 2024 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Bay-County-Michigan-General-Obligation-2740584>
  
US$ 225.00
$  £  
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Credit Research from one place.