Data, including any documents, obtained on MDOT web pages is for informational purposes only. Any information provided is not intended to replace any information or consultation provided by a professional financial advisor and is not intended to be the basis of nor should it be relied upon in making an investment decision.
Finance questions? Contact 517-216-0869.
| Date rated | Moody's | S&P | Fitch |
|---|---|---|---|
| Current as of August 2026 | Aa1 | AA+ | N/A |
| August 2023 | Aa2 | AA+ | N/A |
Debt service coverage for STF bonds
| Date rated | Moody's | S&P | Fitch |
|---|---|---|---|
| Current as of September 2024 | Aa1 | AA+ | N/A |
| June/July 2015 | Aa2 | AA+ | N/A |
Debt service coverage for CTF bonds
| Date rated | Moody's | S&P | Fitch |
|---|---|---|---|
| Current as of September 2024 | A1 | AA | N/A |
| July 2016 | A2 | AA | N/A |
Debt service coverage for Grant Anticipation bonds
MDOT has authority to issue bonds for a variety of transportation programs. Bond financing allows the department to advance projects so users can enjoy the social and economic benefits sooner.
Bonding for improvements with a significant useful life spreads the project costs to the users over a longer period of time.
Bond financing allows MDOT to advance and complete more quickly than relying on cash financing alone. Economic benefits are realized sooner, providing an immediate boost to Michigan's economy. The current bond program leverages historically low interest rates to offset the inflation costs of delaying projects. When conditions allow, MDOT refinances existing debt at lower interest rates to free up funding for other priorities.
