Oakland County Meets with Bond Rating Analysts to Renew AAA Rating

Oakland County is optimistic it will retain its AAA bond rating, County Executive L. Brooks Patterson announced today following the annual bond rating meetings with Moody’s Investors Service and Standard & Poor’s. The county has held a AAA bond rating since 1998. "Our presentation to the bond rating analysts went well," Patterson said. "We demonstrated why Oakland County is the best-managed county in the United States." Members of county administration highlighted the fiscal and … [Read more...]

City of Rochester Receives ‘AAA’ Bond Rating

The City of Rochester recently received the highest ‘AAA’ bond rating from Standard & Poor’s Ratings Services (S&P) for the City’s series 2015 limited-tax general obligation capital improvement bonds financing its Parking Platform Construction Project. Rochester joins the very few Michigan communities with an ‘AAA’ bond rating and is just one of two cities with a population of less than 20,000 to receive this highest rating from S&P.  The ‘AAA’ rating is based on many factors, … [Read more...]

Oakland County retains AAA because of budgeting practices

According to a press release, Oakland County, Mich. retained its AAA bond rating on $3.1 million Building Authority Refunding Bonds, Series 2014, County Executive L. Brooks Patterson announced today. Moody's Investors Service cited the county’s strong fiscal management practices as the reason behind awarding it the highest credit rating with a stable outlook. “We expect the county's financial position will remain strong going forward owing to continued application of very solid fiscal … [Read more...]

Oakland County closes $350 million bond deal

Oakland County has closed a bond deal that will save taxpayers an estimated $130 million, County Executive L. Brooks Patterson and Treasurer Andy E. Meisner announced. The county issued $350 million in limited taxable general obligation (GO) bonds yesterday with the majority purchased by Bank of America, N.A. The county will use the proceeds eventually to refinance existing debt and to supersede the county’s future retiree health care obligations. “Bank of America sees Oakland County as a … [Read more...]