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Article: Fitch Rates Bay City, Michigan's $8.535MM LTGOs 'A+'.
- Article from:
- Business Wire
- Article date:
- March 13, 2008
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Copyright informationCOPYRIGHT 2008 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 (the city) approximately $3,025,000 limited tax general obligation bonds (LTGOs), series 2008A, and approximately $5,510,000 LTGOs, series 2008B. The bonds are scheduled for negotiated sale on March 19, 2008. The bonds are secured by the city's limited tax GO pledge. Proceeds will finance capital improvements related to the city's water and sewer systems. Fitch also affirms the 'A+' rating on the city's approximately $54.9 million of outstanding LTGOs. The Rating Outlook is Stable.
The 'A+' rating reflects the city's conservative financial management, which has produced healthy general fund reserve levels; ...
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