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Annapolis, Maryland; Tax Secured, General Obligation
Standard & Poors, June 2003
Abstract
The 'AA' rating on the city of Annapolis, Md.'s GO bonds reflects: A local economic base anchored by the government sector and maritime-related tourism; An affluent residential base with employment access to both the Baltimore and Washington, D.C. metropolitan areas; Strong financial performance and position, despite a planned draw-down of general fund reserves to fund capital improvement projects (CIPs); and A low debt burden with manageable future capital needs. These credit factors are slightly offset by the city's above-average unemployment rate. Annapolis is located in Anne Arundel County (GO rating 'AA+'/Positive) and is about 30 miles equidistant from Baltimore and Washington, D.C. The city, with a population of 35,838, serves as the state capital, county seat, and location of the
Article Type:FULL
Companies mentioned in this report are: Annapolis
Action: New Rating
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