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Baltimore Mayor & City Council, Maryland; Appropriation, Appropriation; Tax Secured, General Obligation Mar 03
Standard & Poors, March 2003
Abstract
The 'A+' rating on Baltimore Mayor and City Council, Md.'s GO consolidated public improvement refunding 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 offset by: A gradual 11% decline in the city's population over the past decade; Wealth levels that have been increasing but still remain at about 36% below the state and 23% below the national averages, respectively; and A low $29,506 per capita market value, which further reflects the city's below-average wealth...
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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