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Calvert County, Maryland; Tax Secured, General Obligation Mar 03
Standard & Poors, March 2003
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
Abstract
The upgrade on Calvert County, Md.'s GO bonds to 'AA' from 'AA-' reflects the county's continued strong financial position and solid reserve levels, coupled with very good taxing flexibility to offset the current challenges faced by the state in balancing its budget. The 'AA' rating on the county's GO bonds series 2003 reflects: The expanding local economy of the county, whose northern border serves as a bedroom community for the greater Washington, D.C., metropolitan area; Wealth and income levels that are above the national average; Historically low unemployment; Steady tax base growth, even as the board of county commissioners works to control growth; A strong financial position strengthened by solid reserves, good taxing flexibility, sound fiscal policies, and conservative management...
Companies mentioned in this report are: Calvert Cnty
Action: New Rating
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