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Article: Fitch Rates Bay City, Michigan's $6MM LTGOs 'A+'.
- Article from:
- Business Wire
- Article date:
- October 8, 2004
CopyrightCOPYRIGHT 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 $6 million limited tax general obligation bonds, series 2004B, scheduled for sale on Oct. 18, 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 sewer system revenues to repay the debt. Proceeds of this issue will finance capital improvements related to the city's sanitary sewer system.
The 'A+' rating reflects a growing economic base that is shifting from durable manufacturing to health care and other services. Although the city has expanded through residential ...
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