S&P raises Ann Arbor, Mich. water revs rating to 'AA'
April 25 (Reuters) - Standard & Poor's Ratings Services on Thursday said that it raised Ann Arbor, Mich.'s outstanding water enterprise revenue bonds rating to AA from AA-minus. The outlook is stable.
S&P said the rating reflects "the strong and diverse economic base, anchored by the University of Michigan, that lends stability to the system's revenue base."
S&P also cited management's "ability to maintain good to strong debt service coverage and strong liquidity."