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Baltimore, MD's GO Rating Raised To 'AA-' On Expanding Economy And Improving Finances May 07
Standard & Poors, May 2007
Abstract
NEW YORK (Standard & Poor's) May 22, 2007--Standard & Poor's Ratings Services raised its rating on Baltimore Mayor and City Council, Md.'s GO debt to 'AA-' from 'A+' based on a steady trend of economic growth that has expanded the city's tax base and improved its demographic profile. These favorable economic trends have also had a positive effect on the city's revenues and reserve levels. At the same time, Standard & Poor's assigned its 'AA-' rating to the city's $53 million taxable (series 2007A) and tax-exempt (series 2007B) GO consolidated public improvement bonds. The rating outlook is stable. 'Baltimore has seen steady improvement in its economic and financial position over time, and reserves are at record levels, which should provide...
Companies mentioned in this report are: Baltimore Mayor & City Council
Action: New Rating
Action: Outlook: Stable
Action: Upgraded
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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