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Charles County, MD's Significant Reserve Drawdowns, Decreased Revenues Drive 'AA' GO Debt Rating Outlook To Stable Jun 11 Product Image

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

Abstract
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: 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 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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