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Baltimore, MD's 'A+' GO Rating Affirmed Following Announcement of Loan to City Public Schools Mar 04
Standard & Poors, March 2004
Abstract
NEW YORK (Standard & Poor's) March 26, 2004--Standard & Poor's Ratings Services affirmed its 'A+' rating on Baltimore, Md.'s $564.4 million of outstanding general obligation debt following the city's decision to draw down reserves to assist the Baltimore City Public School System (BCPSS) through a temporary $42.0 million loan to help the system meet its operating needs. The rating affirmation is based on the overall review of the city's financial position, the effect of the proposed loan on the city's financial position, and the preliminary school financial recovery plan. The outlook is stable. 'It is expected that the loan being made to the school system will be repaid on a timely basis, and that the city's reserves will not become...
Companies mentioned in this report are: Baltimore Mayor & City Council
Action: Affirmed
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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