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Baltimore Mayor and City Council, MD's Senior-Lien Waste Water Projects Revenue Bonds Rated 'AA'; SPURs Affirmed Apr 09
Standard & Poors, April 2009
Abstract
NEW YORK (Standard & Poor's) April 29, 2009--Standard & Poor's Ratings Services assigned its 'AA' long-term rating, and stable outlook, to Baltimore Mayor and City Council, Md.'s $29.7 million series 2009C senior-lien waste water projects revenue bonds. We also affirmed the 'AA' underlying rating (SPUR) on the senior-lien bonds and the 'AA-' SPUR on the subordinate-lien bonds outstanding. In our opinion, the ratings reflect the strength and continued expansion of the large regional utility system that provides sewer service to the deep and diverse Baltimore metropolitan statistical area (MSA); historically strong debt service coverage (DSC); and strong liquidity level. The ratings also reflect what we view as the utility system's demonstrated willingness to increase user rates as necessary to support...
Companies mentioned in this report are: Baltimore Mayor & City Council
Action: Affirmed
Action: New Rating
Action: Outlook: Stable
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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