Summary: Maryland; General Obligation Jul 09
- ID: 1887214
- July 2009
- Region: Maryland
- Standard & Poors
Standard & Poor's Ratings Services has assigned its 'AAA' long-term rating to the State of Maryland's general obligation (GO) bonds series 2009A ($235 million), 2009B ($200 million), and 2009C ($50 million).At the same time, we affirmed our '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 Low debt burden. Enhancing this are a clearly defined debt-affordability model limiting annual issuance and the maintenance of...
Companies mentioned in this report are:
Action: New Rating
Action: Outlook: Stable
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