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Annapolis, Md.'s GO Bond Rating Raised to 'AA' From 'AA-'; Outlook Stable
Standard & Poors, Nov 2001
Abstract
NEW YORK (Standard & Poor's) Nov. 6, 2001?Standard & Poor's today raised its rating on Annapolis, Md.'s $35.905 million GO bonds to double-'A' from double-'A'-minus. The outlook is stable. The upgrade reflects: -- A sound economic base anchored by government employment and maritime-related tourism; -- Affluent residential base with access to both the Baltimore and Washington, D.C. metropolitan areas; -- Strong financial operating results and significant reserve levels enhanced by good management practices; and -- A low debt burden with manageable capital needs. These credit factors are slightly offset by the city's above-average unemployment rate. The city of Annapolis is located in Anne Arundel County and has an estimated population of 35,838. It is situated about 30 miles equidistant from
Article Type:NEWS,RATING_ACTION
Companies mentioned in this report are: Annapolis
Action: Upgraded
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