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Summary: Yarmouth, Maine; General Obligation May 11
Standard & Poors, May 2011
Standard & Poor's Ratings Services has assigned its 'AA' long-term rating to Yarmouth, Maine's 2011 general obligation (GO) refunding bonds and affirmed its 'AA' long-term rating on the town's previously issued GO debt. The outlook is stable. The ratings reflect our assessment of the town's: Access to and participation in the Portland, Maine economic base; Very strong income and extremely strong wealth levels and low unemployment rate; Consistently good unreserved general fund balances with significant liquidity held in capital reserves; and Low-to-moderate debt burden. The town's full faith and credit pledge secures the bonds. Officials will use the bond proceeds to refund its series 2001 and 2002 GO bonds. Yarmouth serves a population of approximately 7,995 in Cumberland County (AA+/Stable),...
Companies mentioned in this report are: Yarmouth
Action: New Rating
Action: Outlook: Stable
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