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Calvert County, Maryland; Tax Secured, General Obligation Apr 04
Standard & Poors, April 2004
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 'AA' rating on Calvert County, Md.'s series 2004 and outstanding GO bonds reflects: An expanding local economy, 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 practices; and A low debt burden. The bonds are secured by the county's full faith and credit GO pledge. The county's GO rating was raised to 'AA' from 'AA-' in March 2003. Series 2004 bonds proceeds will be used to fund several...
Companies mentioned in this report are: Calvert Cnty
Action: New Rating
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