-Grosse Pointe gets AA+ rating from S&P for 2011 bonds.
BANKING AND CREDIT NEWS-February 7, 2011--Grosse Pointe gets AA+ rating from S&P for 2011 bonds(C)2011 M2 COMMUNICATIONS http://www.m2.com
7 February 2011 - S&P on Monday gave its AA+ rating with a "stable" outlook to the City of Grosse Pointe, Michigan's series 2011 unlimited-tax general obligation (GO) refunding bonds.
The rating indicates the city's very strong reserves, solid income and wealth indicators and good financial management, S&P noted.
The city will use the bond proceeds to refinance its outstanding series 2001 unlimited-tax GO bonds for the sole purpose of interest savings.
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