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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: New Rating
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
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