Article: Fitch Rates Bay City, Michigan's $6MM LTGOs 'A+'.

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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