Summary: Baltimore Mayor & City Council, Maryland; Appropriations; General Obligation May 11

Standard & Poors, May 2011

Abstract
Standard & Poor's Ratings Services assigned its 'AA-' long-term rating, and stable outlook, to Baltimore Mayor & City Council, Md.'s series 2011A general obligation (GO) bonds and series 2011B consolidated public improvement bonds and affirmed its 'AA-' long-term rating and underlying rating (SPUR), with a stable outlook, on the city's existing GO debt. Standard & Poor's also affirmed its 'A+' long-term rating, with a stable outlook, on the city's appropriation-backed debt. The rating reflects our opinion of the city's: Steady trend of economic expansion that has expanded and diversified the city's property tax base and improved its demographic profile; Strong financial and debt management policies, which have contributed to the city's increased financial reserves and flexibility; and Low-to-moderate debt levels...

Companies mentioned in this report are: Baltimore Mayor & City Council
Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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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.

Baltimore Mayor & City Council

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