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S&P rates Michigan G.O. debt AA-
Standard & Poor's said it assigned an AA- rating and stable outlook to $233.47 million of Michigan's general obligation bonds.
The issue includes $200.56 million of bonds (tax-exempt) (environmental program and refunding), series 2008A, $19.355 million of bonds (federally taxable) (environmental program and refunding), series 2008B, $12.145 million of bonds (tax-exempt) (environmental program), series 2008C, and $1.41 million of bonds (federally taxable) (environmental program), series 2008D.
At the same time, S&P said it affirmed the state's long-term AA- rating and stable outlook.
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