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Summary: Maryland; General Obligation Feb 07
Standard & Poors, February 2007
The 'AAA' rating on Maryland's GO bonds reflects: A diverse, broad-based economy that has outperformed the national economy over the past five years and is projected to maintain strong job growth over the near term; High wealth and income levels, coupled with unemployment that remains below the national average through economic cycles; Historically strong financial management and performance, with strong liquidity and financial operations; Surpluses in fiscals 2004 through 2006 that have built the state's reserve (rainy day) fund balance beyond the historical 5.0% target; and A manageable debt burden enhanced by a clearly defined debt-affordability model, limiting annual issuance and maintaining ratios within reasonable limits, including a constitutional 15-year debt maturity schedule. Maryland's economic base is substantial and diverse,...
Companies mentioned in this report are: Maryland
Action: New Rating
Action: Outlook: Stable
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