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Calvert County, Maryland; Tax Secured, General Obligation Mar 05
Standard & Poors, March 2005
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 2005 and outstanding GO bonds reflects: An expanding local economy whose northern section serves as a bedroom community for the greater Washington, D.C. metropolitan area; Wealth and income levels that are above average and have been increasing at a faster rate than the state and nation; Historically low unemployment; Steady tax base growth, even as the board of county commissioners works to curtail residential growth; A strong financial position strengthened by solid reserves, good taxing flexibility, sound fiscal policies, and conservative management practices; and A low debt burden with manageable future capital needs guided by debt affordability guidelines. A higher rating is precluded by a local economy that continues to grow and...
Companies mentioned in this report are: Calvert Cnty
Action: New Rating
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