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Summary: Maryland; General Obligation Jul 09 Product Image

Summary: Maryland; General Obligation Jul 09

  • ID: 1887214
  • July 2009
  • Region: Maryland
  • Standard & Poors

Abstract
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:
- Maryland

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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