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Baltimore Mayor And City Council, Maryland; Water/Sewer May 08
Standard & Poors, May 2008
Abstract
Standard & Poor's Ratings Services raised its underlying rating (SPUR) on Baltimore Mayor and City Council, Md.'s senior-lien wastewater projects bonds to 'AA' from 'A+'. At the same time, Standard & Poor's raised its SPUR on the city's subordinate-lien wastewater projects bonds to 'AA-' from 'A'. Standard & Poor's also assigned its 'AA' rating, and stable outlook, to the city's series 2008A senior-lien wastewater projects revenue bonds. The rating upgrade reflects 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), as well as solid historical and estimated debt service coverage (DSC) and liquidity levels. Other rating factors include the system's: Demonstrated willingness to increase...
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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