Charles County, MD's Significant Reserve Drawdowns, Decreased Revenues Drive 'AA' GO Debt Rating Outlook To Stable Jun 11
- ID: 1832073
- June 2011
- Standard & Poors
NEW YORK (Standard & Poor's) June 20, 2011--Standard & Poor's Ratings Services revised the outlook on its 'AA' long-term rating and underlying rating (SPUR) on Charles County, Md.'s general obligation (GO) debt to stable from positive. Standard & Poor's revised the outlook based on its assessment of the county's significant reserve drawdowns due to management's intention to keep reserves between 8% and 15%, according to county policy, and decreased revenues due to the recession. At the same time, Standard & Poor's assigned its 'AA' long-term rating and stable outlook to the county's $56.25 million series 2011 GO tax-exempt and taxable consolidated public improvement bonds and affirmed its 'AA' long-term rating and SPUR on the county's existing GO debt. "We think...
Companies mentioned in this report are:
- Charles Cnty
Action: New Rating
Action: Outlook: Stable
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