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Baltimore, Maryland GO Bonds Assigned 'AA-' Rating Oct 08
Standard & Poors, Oct 2008
Abstract
NEW YORK (Standard & Poor's) Oct. 10, 2008--Standard & Poor's Ratings Services assigned its 'AA-' long-term rating, with a stable outlook, to the city of Baltimore, Maryland's general obligation (GO) bonds series 2008C and 2008D, in the amount of $167.68 million. 'In our opinion, we base the rating on a steady trend of economic expansion that has expanded the city's tax base and also improved its demographic profile,' said Standard & Poor's credit analyst Richard Marino. Other factors include: favorable economic trends that have benefited the city's revenues and reserve levels; strong financial and debt management policies, which have contributed to the city's increased financial reserves and flexibility; low-to-moderate debt levels and a well-defined long-term capital plan; and active management...
Companies mentioned in this report are: Baltimore Mayor & City Council
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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