Summary: Washington Cnty, MD; Tax Secured, General Obligation Jan 03

Standard & Poors, January 2003

Abstract
The 'A+' rating on Washington County, Md.'s public improvement bonds series 2003 reflects: A stable economic base, Healthy tax base growth, Good financial performance bolstered by a budget stabilization fund, and A moderate debt burden. Tempering factors include ongoing transfers from the general fund to the water and sewer utility fund and below-average wealth indicators. The bonds are secured by the full faith and credit pledge of the county. The bulk ($5.0 million) of series 2003 bond proceeds will be used to fund school-related projects. The remaining proceeds will be used to fund solid waste projects and other various projects. The rural county is in western Maryland, bordering Pennsylvania and West Virginia. The county's population totals 133,197. The county has...

Companies mentioned in this report are:
- Washington Cnty

Action: New Rating

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

- Washington Cnty

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