Summary: Marquette, Michigan; General Obligation; General Obligation Equivalent Security; Miscellaneous Tax - S&P Global Ratings’ Credit Research

Summary: Marquette, Michigan; General Obligation; General Obligation Equivalent Security; Miscellaneous Tax

Summary: Marquette, Michigan; General Obligation; General Obligation Equivalent Security; Miscellaneous Tax - S&P Global Ratings’ Credit Research
Summary: Marquette, Michigan; General Obligation; General Obligation Equivalent Security; Miscellaneous Tax
Published May 21, 2020
Published May 21, 2020
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Abstract:

S&P Global Ratings lowered its long-term rating to 'AA' from 'AA+' on Marquette, Mich.'s series 2018 Michigan Transportation Fund (MTF) bonds. At the same time, S&P Global Ratings assigned its 'AA' long-term rating to the city's expected $3.555 million series 2020 general obligation (GO) capital improvement bonds and $2.175 million series 2020 MTF bonds. Finally, S&P Global Ratings affirmed its 'AA' long-term rating and underlying rating (SPUR) on the city's remaining limited and unlimited GO debt. The outlook on all ratings is stable. The downgrade of the series 2018 MTF bonds reflects the decrease in coverage from 3.27x to roughly 1.94x as a result of the city issue additional MTF secured debt; additionally, the uncertainty surrounding the COVID-19 pandemic and

  
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Summary

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MLA:
S&P Global Ratings’ Credit Research. "Summary: Marquette, Michigan; General Obligation; General Obligation Equivalent Security; Miscellaneous Tax" May 21, 2020. Alacra Store. Jan 27, 2022. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Marquette-Michigan-General-Obligation-General-Obligation-Equivalent-Security-Miscellaneous-Tax-2447910>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Marquette, Michigan; General Obligation; General Obligation Equivalent Security; Miscellaneous Tax May 21, 2020. New York, NY: Alacra Store. Retrieved Jan 27, 2022 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Marquette-Michigan-General-Obligation-General-Obligation-Equivalent-Security-Miscellaneous-Tax-2447910>
  
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