Summary: Prince George's County, Maryland; Appropriations; General Obligation Jan 07
- ID: 1921948
- January 2007
- Region: Maryland
- Standard & Poors
The 'AA' standard long-term rating on Prince George's County, Md.'s certificates of participation (COPs) (equipment acquisition program) series 2007 reflects: The strong general creditworthiness of Prince George's County ('AA+' GO rating); The county's absolute and unconditional obligation to make purchase installment payments in an amount sufficient to provide for the debt service on the COPs, subject to annual appropriation; The county's demonstrated commitment to repaying appropriations-backed obligations; and Standard contractual provisions. The series 2007 COPs are secured by purchase installment payments to be made by the county to the trustee, as seller. The COPs will be used to fund the county's equipment acquisition program. The bulk of the equipment is for police ($13.1 million) and fire ($2.8 million), and public...
Companies mentioned in this report are:
- Prince George's Cnty
- Washington Suburban Sanitary Dist
- Prince George's Cnty Indl Dev Auth
Action: New Rating
Action: Outlook: Stable
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