S&P Global Ratings recently announced the state’s credit rating outlook has been increased from “negative” to “stable.” In its announcement, S&P noted the outlook revision reflects improved economic prospects, generating better than budgeted financial results, and continued budget stabilization.
S&P affirmed the state’s AA general obligation rating and AA-minus rating on appropriation debt and Michigan State Building Authority fixed-rate revenue bonds. The outlook action also impacted transportation fund gas tax and truck line fund bonds that carry AA-plus ratings and Detroit Convention Facility Authority debt rated AA. All have ties to the state’s rating.
Michigan Legislative Consultants is a bipartisan lobbying firm based in Lansing, Michigan. Our team of lobbyists and procurement specialists provide a wide range of services for some of the most respected companies in America. For more on MLC, visit www.mlcmi.com or connect with us on LinkedIn and Twitter.
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