CUSIP 251237N90

  • ISIN: US251237N905
  • Entity Name: City of Detroit
  • Sector: Municipal
  • Announcement Date: 05-Sep-2018
  • Effective Date: *****
  • Issue Date: *****
  • Maturity Date: 01-Jul-2036
  • 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 two notches on both the Great Lakes Water Author ity (GLWA), Mich.`s existing senior-lien bonds to `A+` from `A-` and existing s econd-lien bonds to `A` from `BBB+`. At the same time, we assigned our `A+` rat ing to authority`s series 2018 sewage disposal system revenue and revenue refu nding senior-lien bonds. The outlook is positive. ""The upgrade is based on oversight through an agency relati onship and cooperation with the Detroit Water and Sewer Board (DWSD) a nd its Board of Water Commissioners that we view as strong and supportive o f credit quality,"" said S&P Global Ratings credit analyst Scott Garrigan, ""and overall management and governance functions that we also 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. Not facing any regulatory-driven capital costs from consen t orders or consent decrees.
  • Description: Municipal Name: City of Detroit CUSIP: 251237N90 Currency: USD City of Detroit announced today that the Standard & Poor`s Rating has upgraded the ratings related to the Series 2006B, Senior Second Lien Bonds from BBB+ to A.
  • Bond Document:
  • Latest Corporate Actions:

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