Maryland; General Obligation Sep 11
Standard & Poors, September 2011
Abstract
Standard & Poor's Ratings Services assigned its 'AAA' long-term rating, and stable outlook, to Maryland's general obligation (GO) bonds, state and local facilities loan of 2011, second series E tax exempt refunding bonds. At the same time, Standard & Poor's affirmed its 'AAA' long-term rating on Maryland's parity GO debt outstanding. The outlook is stable. The rating reflects what we view as the state's: Diverse, broad-based economy, which has historically outperformed the national economy; Strong wealth and income levels, coupled with unemployment that remains below the national average through economic cycles; Long history of prudent fiscal management, including making difficult decisions to restore structural budget balance; and Moderate debt burden; enhancing this are a clearly defined debt-affordability model limiting annual...
Companies mentioned in this report are: Maryland
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
Maryland
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