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Baltimore Mayor & City Council, Maryland; General Obligation, Local GO Jun 00
Standard & Poors, June 2000
Abstract
The upgrade on Baltimore, Md.'s GO bonds is based on a strengthening local economy and sustained sound financial performance throughout a period of economic downturn. The bonds are secured by a full faith and credit tax pledge. Other rating factors include: The city's participation in a regional economy that includes Baltimore County; Sound financial performance and strong debt management, and A manageable debt burden. These factors are offset by declines in the population that have slowed to an average annual 2% and wealth levels that are improving but still remain below average. Baltimore is the largest city in Maryland and shares in a strong regional economy. Income and unemployment indicators are strengthening, as the local economy continues a slow expansion....
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: Full Analysis
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