Standard&Poor's Ratings Services affirmed its 'A' long-term rating on Durand, Mich.'s general obligation (GO) debt. The outlook is stable. The ratings reflect our view of the city's: Proximity to jobs in Flint and Lansing; Very strong financial position based on recent operating surpluses, although we expect reserves to decrease somewhat; and Moderate overall net debt burden with rapid amortization. The city's below-average incomes and wealth offset the above strengths. The city's full faith and credit GO pledge secures the bonds. Durand serves an estimated population of 3,314 in Shiawassee County 20 miles southwest of Flint and 40 miles northeast of Lansing. Local residents commute to nearby Flint and Lansing for jobs. Incomes in the city are, in our
