CUSIP 251237C35

  • ISIN: US251237C353
  • Entity Name: City of Detroit
  • Sector: Municipal
  • Announcement Date: 05-Sep-2018
  • Effective Date: *****
  • Issue Date: *****
  • Maturity Date: 01-Jul-2023
  • Country of Issuer: United States
  • Region: N.Amer
  • Issue Currency: United States of America Dollars
  • CA Type: Rating Upgrade
  • News: S&P Global Rat ings raised its ratings by three notches on the Great Lakes Water Authority (GLWA), Mich.`s existing senior-lien bonds to `AA-` from `A-` and its exist ing second-lien bonds to `A+` from `BBB+`. We also assigned our `A+` rating to the authority`s series 2018 water supply system refunding second-lien bonds . The outlook is stable. ""The upgrade is based on oversight through an agency relati onship and cooperation with the Detroit Water and Sewer Department (DW SD) and its governing Board of Water Commissioners that we view as stro ng and supportive of credit quality,"" said S&P Global Ratings credit analyst Scott Garrigan, ""and overall management and governance functions that we al so view as supportive of credit quality at the current rating level."" Other factors include GLWA`s: Actual financial performance that has continued to exceed projections from prior feasibility studies.
  • Description: Municipal Name: City of Detroit CUSIP: 251237C35 Currency: USD City of Detroit announced today that the Standard & Poor`s Rating has upgraded the ratings related to the Series 2004, Revenue Refunding Senior Lien Bonds from BBB+ to A+.
  • Bond Document:
  • Latest Corporate Actions:

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