Standard & Poor's Ratings Services has assigned its 'AA' long-term rating, and stable outlook, to Baltimore Mayor and City Council, Md.'s series 2011A senior-lien revenue bonds (wastewater projects). Standard & Poor's also affirmed its 'AA' underlying rating (SPUR) on the city's senior-lien bonds and its 'AA-' SPUR on the city's subordinate-lien bonds outstanding. The rating reflects what we view as: The strength and continued expansion of the large regional utility system that provides wastewater service to the deep and diverse Baltimore metropolitan statistical area (MSA), Sufficient long-term treatment capacity, Competitive rates and management's demonstrated willingness to increase rates as necessary, and Solid historical and estimated debt service coverage (DSC) and liquidity levels. In our opinion, credit limitations include the system's...
Companies mentioned in this report are:
- Baltimore Mayor & City Council
Action: New Rating
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Research Type: Full Analysis