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Baltimore, Maryland; Tax Secured, General Obligation Jun 05
Standard & Poors, June 2005
Abstract
The 'A+' rating on the City of Baltimore, Md.'s series 2005A and 2005B GO bonds reflects: The city's participation in the deep and diverse Baltimore regional economy; Good financial performance and position, aided by a budget stabilization fund, and multiyear forecasting; A large and diverse tax base that has exhibited modest growth over the past two fiscal years; and A moderate and manageable debt burden. These factors are mitigated by: A gradual 11% decline in the city's population over the past decade; Wealth levels that are below state and national averages; and A low $31,677 per capita market value, which further reflects the city's below-average wealth levels. The outstanding GO bonds are secured by the city's full faith and credit...
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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