CHICAGO -- Standard & Poor's Corp. on Friday affirmed the ratings on $87.3 million of tax increment finance debt in Michigan and removed the issues from CreditWatch, where they were placed last November with negative implications.

The rating agency affirmed an Aminus rating for $81.7 million of tax increment debt sold by the Detroit Downtown Development Authority and a BBB-minus rating for $5.6 million of the Lapeer Tax Increment Financing Authority's debt.

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