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Summary: Annapolis, Maryland; General Obligation Aug 07
Standard & Poors, August 2007
Standard & Poor's Ratings Services assigned its 'AA' rating to the city of Annapolis, Md.'s series 2007 GO bonds. Standard & Poor's also affirmed its 'AA' long-term rating on the city's previously issued GO bonds. The 'AA' rating reflects: A local economic base anchored by the state and federal government and maritime-related tourism; Proximity and participation in both the Baltimore and Washington, D.C. metropolitan areas; A growing and diverse tax base with no taxpayer concentration; Strong financial performance and position, despite a reduction in reserves to fund capital improvement projects (CIPs); and A low debt burden with manageable future capital needs. The series 2007 and previously issued GO bonds are secured by the city's full faith and credit pledge. Proceeds...
Companies mentioned in this report are:
Action: New Rating
Action: Outlook: Stable
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