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Fitch Rates Bay City, Michigan's $2.8MM LTGOs 'A+'.
- Article from:
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Business Wire
- Article date:
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September 27, 2004
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Copyright informationCOPYRIGHT 2004 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CHICAGO -- Fitch Ratings assigns an 'A+' rating to Bay City, MI's $2.8 million downtown development and refunding (general obligation, limited tax) bonds, series 2004, scheduled for sale on Oct. 5, 2004 via negotiation led by Robert W. Baird & Co. The Rating Outlook is Stable. The bonds are secured by the city's limited tax general obligation pledge; however, the city intends to use tax increment revenues derived from its downtown development area to repay the debt. Proceeds of this issue will finance public improvements to the city's downtown development area and will refund certain maturities of the city's series 1997 downtown development revenue bonds.
The 'A+' rating ...