• +353-1-415-1241(GMT OFFICE HOURS)
  • 1-800-526-8630(US/CAN TOLL FREE)
  • 1-917-300-0470(EST OFFICE HOURS)
Summary: Portsmouth, VA; Appropriation, Moral Obligation; Tax Secured, General Obligation Oct 05 Product Image

Summary: Portsmouth, VA; Appropriation, Moral Obligation; Tax Secured, General Obligation Oct 05

  • Published: October 2005
  • Standard & Poors

Abstract
The 'AA-' standard long-term rating and Standard & Poor's underlying rating (SPUR) on Portsmouth, Va.'s GO bonds reflects the city's: Strategic location in the heart of the Hampton Roads region with a large stable military presence as an economic anchor--the success of economic development initiatives is expected to diversify the commercial and residential base; Sound management, despite recent turnover in key staff positions; Sound financial position and continued improvement of financial operations; and A moderate debt burden. The rating has been hindered by offsetting factors that include structurally above-average unemployment and below-average wealth and income levels, although not uncommon in this region with a large military presence. The array of development projects will be weighted based on their ability to...

Companies mentioned in this report are:
- Portsmouth

Action: Affirmed
Action: New Rating
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 READ MORE >

- Portsmouth

Note: Product cover images may vary from those shown

RELATED PRODUCTS