Grand Rapids Michigan San Sewer System Revenue

CITY· MI· Unclaimed profile

Outstanding · as of 11/6/2026—(EMMA est.)

RatingsAa2 Moody's · AA S&P

Latest filing12/31/2025Annual financial information and operating data

Credit ratings

agency-stated

Moody's

Aa2

176 rated securities

S&P

187 rated securities

Ratings by reconciled issuer credit
Credit	Agency	Rating	Par	CUSIPs
GO Limited Tax $263.7M
GO Limited Tax $263.7M	Moody's	Aa2	$216.9M	80
	S&P	AA	$224.9M	90
Sanitary Sewer System $211.1M
Sanitary Sewer System $211.1M	Moody's	Aa2	$169.4M	46
	S&P	AA	$169.4M	46
Water Supply System $92.9M
Water Supply System $92.9M	Moody's	Aa2	$61.9M	35
	S&P	AA	$62.5M	36
Building Authority $9.5M
Building Authority $9.5M	Moody's	Aa2	$9.5M	13
	S&P	AA	$9.5M	13
Brownfield Redevelopment Auth $935K
Brownfield Redevelopment Auth $935K	Moody's	Aa2	$935K	2
	S&P	AA	$935K	2

Maturity profile

par maturing by year · as of 11/6/2026

Recent activity

rating actions & filings

Official statement posted

8/17/2026 · LIMITED TAX GENERAL OBLIGATION BONDS, SERIES 2026A

Annual Financial Information and Operating Data filed

12/31/2025 · 2025 City of Grand Rapids Financial and Operating Data, Audited…

Official statement posted

11/25/2025 · WATER SUPPLY SYSTEM REVENUE REFUNDING BONDS, SERIES 2025

Official statement posted

5/15/2025 · LIMITED TAX GENERAL OBLIGATION BONDS, SERIES 2025

Annual Financial Information and Operating Data filed

12/27/2024 · FY24 Continuing Disclosure, Audited Financial Statements or ACF…

Failure to Provide Annual Financial Information filed

5/1/2024 · Failure to File Notice

In context

Larger than 98% of MI issuers by debt outstanding · #26 of 1452

Debt overview

MuniPro reconciled book (20 series)

Outstanding par

$578.2M

Bond series

CUSIPs

243

Callable par

$393.6M

Avg coupon

4.62%

Avg maturity

12.9 yrs

Tax status

85% Tax-exempt 15% Taxable

46% of book GO Limited Tax

$263.7M Aa2 / AA 8 series final 2055

37% of book Sanitary Sewer System

$211.1M Aa2 / AA 6 series final 2050

16% of book Water Supply System

$92.9M Aa2 / AA 3 series final 2050

2% of book Building Authority

$9.5M Aa2 / AA 2 series final 2039

0% of book Brownfield Redevelopment Auth

$935K Aa2 / AA 1 series final 2032

Maturity profile

principal by maturity · debt service · ✓ QuantLib

Principal maturing by year, split by call status. Reconciled from MuniPro’s curated bond-level debt profile.

Outstanding securities

20 series · 243 CUSIPs

Credit / Series / CUSIP Tax Coupon Final Outstanding Callable

CUSIPCouponMaturityOutstandingCall

386226L695.00%4/1/2030$1.7M—

386226L775.00%4/1/2031$1.7M—

386226L855.00%4/1/2032$1.7M—

386226L935.00%4/1/2033$1.9M—

386226M275.00%4/1/2034$2.2M—

386226M355.00%4/1/2035$2.6M—

386226M435.00%4/1/2036$2.9M4/1/2035

386226M505.00%4/1/2037$3.3M4/1/2035

386226M685.00%4/1/2038$3.6M4/1/2035

386226M765.00%4/1/2039$3.9M4/1/2035

386226M845.00%4/1/2040$4.1M4/1/2035

386226M925.00%4/1/2041$4.3M4/1/2035

386226N265.00%4/1/2042$4.5M4/1/2035

386226N345.00%4/1/2043$4.7M4/1/2035

386226N425.00%4/1/2044$5.0M4/1/2035

386226N595.00%4/1/2045$5.2M4/1/2035

386226P24Sinking fund5.00%4/1/2046$5.5M4/1/2035

386226P24Sinking fund5.00%4/1/2047$5.8M4/1/2035

386226P24Sinking fund5.00%4/1/2048$6.0M4/1/2035

386226P24Sinking fund5.00%4/1/2049$6.3M4/1/2035

386226P24Term bond5.00%4/1/2050$6.7M4/1/2035

386226P73Sinking fund5.00%4/1/2051$7.0M4/1/2035

386226P73Sinking fund5.00%4/1/2052$7.3M4/1/2035

386226P73Sinking fund5.00%4/1/2053$7.7M4/1/2035

386226P73Sinking fund5.00%4/1/2054$8.1M4/1/2035

386226P73Term bond5.00%4/1/2055$8.5M4/1/2035

26 maturities · first call 4/1/2035 · full schedule on EMMA

CUSIPCouponMaturityOutstandingCall

386226B455.00%4/1/2027$1.5M—

386226B525.00%4/1/2028$1.6M—

386226B605.00%4/1/2029$1.7M—

386226B785.00%4/1/2030$1.7M—

386226B865.00%4/1/2031$1.8M—

386226B945.00%4/1/2032$1.9M—

386226C285.00%4/1/2033$2.0M—

386226C365.00%4/1/2034$2.1M—

386226C445.00%4/1/2035$2.2M4/1/2034

386226C515.00%4/1/2036$2.3M4/1/2034

386226C695.00%4/1/2037$2.4M4/1/2034

386226C775.00%4/1/2038$2.6M4/1/2034

386226C855.00%4/1/2039$2.7M4/1/2034

386226C935.00%4/1/2040$2.8M4/1/2034

386226D275.00%4/1/2041$3.0M4/1/2034

386226D355.00%4/1/2042$3.1M4/1/2034

386226D435.00%4/1/2043$3.3M4/1/2034

386226D505.00%4/1/2044$3.4M4/1/2034

386226D76Sinking fund5.00%4/1/2045$2.2M4/1/2034

386226D76Term bond5.00%4/1/2046$2.3M4/1/2034

386226E26Sinking fund5.00%4/1/2047$2.4M4/1/2034

386226E26Sinking fund5.00%4/1/2048$2.5M4/1/2034

386226E26Term bond5.00%4/1/2049$2.6M4/1/2034

386226E75Sinking fund5.00%4/1/2050$2.8M4/1/2034

386226E75Sinking fund5.00%4/1/2051$2.9M4/1/2034

386226E75Sinking fund5.00%4/1/2052$3.0M4/1/2034

386226E75Sinking fund5.00%4/1/2053$3.2M4/1/2034

386226E75Term bond5.00%4/1/2054$3.3M4/1/2034

28 maturities · first call 4/1/2034 · full schedule on EMMA

CUSIPCouponMaturityOutstandingCall

386226H495.00%10/1/2029$420K—

386226H565.00%10/1/2030$445K—

386226H645.00%10/1/2031$465K—

386226H725.00%10/1/2032$490K—

386226H805.00%10/1/2033$515K—

386226H985.00%10/1/2034$540K—

386226J215.00%10/1/2035$570K10/1/2034

386226J395.00%10/1/2036$600K10/1/2034

386226J475.00%10/1/2037$630K10/1/2034

386226J545.00%10/1/2038$660K10/1/2034

386226J625.00%10/1/2039$695K10/1/2034

386226J705.00%10/1/2040$730K10/1/2034

386226J885.00%10/1/2041$770K10/1/2034

386226J965.00%10/1/2042$810K10/1/2034

386226K37Sinking fund5.00%10/1/2043$850K10/1/2034

386226K37Term bond5.00%10/1/2044$895K10/1/2034

386226K86Sinking fund5.00%10/1/2045$940K10/1/2034

386226K86Sinking fund5.00%10/1/2046$985K10/1/2034

386226K86Sinking fund5.00%10/1/2047$1.0M10/1/2034

386226K86Sinking fund5.00%10/1/2048$1.1M10/1/2034

386226K86Term bond5.00%10/1/2049$1.1M10/1/2034

386226L51Sinking fund5.00%10/1/2050$1.2M10/1/2034

386226L51Sinking fund5.00%10/1/2051$1.3M10/1/2034

386226L51Sinking fund5.00%10/1/2052$1.3M10/1/2034

386226L51Sinking fund5.00%10/1/2053$1.4M10/1/2034

386226L51Term bond5.00%10/1/2054$1.5M10/1/2034

26 maturities · first call 10/1/2034 · full schedule on EMMA

CUSIPCouponMaturityOutstandingCall

386289MH25.00%1/1/2027$25K—

386289MJ85.00%1/1/2028$25K—

386289MK55.00%1/1/2029$25K—

386289ML35.00%1/1/2030$970K—

386289MM15.00%1/1/2031$1.0M1/1/2030

386289MN95.00%1/1/2032$1.1M1/1/2030

386289MP45.00%1/1/2033$1.1M1/1/2030

386289MQ25.00%1/1/2034$1.2M1/1/2030

386289MR05.00%1/1/2035$1.2M1/1/2030

386289MS85.00%1/1/2036$1.3M1/1/2030

386289MT64.00%1/1/2037$1.4M1/1/2030

386289MU34.00%1/1/2038$1.4M1/1/2030

386289MV14.00%1/1/2039$1.5M1/1/2030

386289MW94.00%1/1/2040$1.5M1/1/2030

386289MX7Sinking fund5.00%1/1/2041$1.6M1/1/2030

386289MX7Sinking fund5.00%1/1/2042$1.7M1/1/2030

386289MX7Sinking fund5.00%1/1/2043$1.8M1/1/2030

386289MX7Sinking fund5.00%1/1/2044$1.9M1/1/2030

386289MX7Term bond5.00%1/1/2045$1.9M1/1/2030

386289MY5Sinking fund4.00%1/1/2046$2.0M1/1/2030

386289MY5Sinking fund4.00%1/1/2047$2.1M1/1/2030

386289MY5Sinking fund4.00%1/1/2048$2.2M1/1/2030

386289MY5Sinking fund4.00%1/1/2049$2.3M1/1/2030

386289MY5Term bond4.00%1/1/2050$2.4M1/1/2030

24 maturities · first call 1/1/2030 · full schedule on EMMA

CUSIPCouponMaturityOutstandingCall

386316PK35.00%1/1/2027$540K—

386316PL15.00%1/1/2028$570K—

386316PM95.00%1/1/2029$600K—

386316PN75.00%1/1/2030$625K—

386316PP25.00%1/1/2031$660K1/1/2030

386316PQ05.00%1/1/2032$690K1/1/2030

386316PR85.00%1/1/2033$725K1/1/2030

386316PS65.00%1/1/2034$760K1/1/2030

386316PT45.00%1/1/2035$800K1/1/2030

386316PU1Sinking fund5.00%1/1/2036$840K1/1/2030

386316PU1Sinking fund5.00%1/1/2037$880K1/1/2030

386316PU1Sinking fund5.00%1/1/2038$925K1/1/2030

386316PU1Sinking fund5.00%1/1/2039$975K1/1/2030

386316PU1Term bond5.00%1/1/2040$1.0M1/1/2030

386316PV9Sinking fund5.00%1/1/2041$1.1M1/1/2030

386316PV9Sinking fund5.00%1/1/2042$1.1M1/1/2030

386316PV9Sinking fund5.00%1/1/2043$1.2M1/1/2030

386316PV9Sinking fund5.00%1/1/2044$1.2M1/1/2030

386316PV9Term bond5.00%1/1/2045$1.3M1/1/2030

386316PW7Sinking fund5.00%1/1/2046$1.4M1/1/2030

386316PW7Sinking fund5.00%1/1/2047$1.4M1/1/2030

386316PW7Sinking fund5.00%1/1/2048$1.5M1/1/2030

386316PW7Sinking fund5.00%1/1/2049$1.6M1/1/2030

386316PW7Term bond5.00%1/1/2050$1.7M1/1/2030

24 maturities · first call 1/1/2030 · full schedule on EMMA

Compiled from MuniPro’s reconciled bond-level debt profile and Official Statements on EMMA. Certain obligations — bank loans, capital leases, or private placements — may not be reflected; not a substitute for the issuer’s audited financial statements.

Market activity

EMMA · secondary trades · latest compiled 11/4/2026

Each dot is a reported secondary trade — yield by trade date, sized by par, colored by trade side. Hover for detail.

Trade dateSecurityPriceYieldSizeSide

11/4 386226D43 103.60 4.42% 590,000 Customer Sold

11/4 386226G73 106.30 4.06% 75,000 Customer Bought

11/4 386226G73 106.30 4.06% 75,000 Inter-Dealer Trade

11/4 386226M50 108.56 3.80% 10,000 Customer Bought

11/4 386226C93 105.05 4.20% 30,000 Customer Bought

11/4 386226C93 105.05 4.20% 30,000 Inter-Dealer Trade

11/4 386226G40 108.15 3.80% 30,000 Customer Bought

Trade prints reported to the MSRB — a live market signal a manual issuer page cannot show.

20 callable securities in this sample carry a stated call price — refunding candidates as rates move.

Grand Rapids Michigan San Sewer System Revenue

Credit ratings

Maturity profile

Recent activity

Debt overview

Maturity profile

Outstanding securities

Market activity

Document library

Disclosure record

Standing

Credentials on record

Dated obligations

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