Summary: Baltimore County, Maryland; Appropriations; CP; General Obligation; Note Nov 11

Standard & Poors, November 2011

Abstract
Standard & Poor's Ratings Services assigned its 'AAA' long-term rating and stable outlook to Baltimore County, Md.'s series 2011 general obligation (GO) bonds, consisting of metropolitan district bonds (74th issue) and consolidated public improvement bonds, and its 'SP-1+' short?term rating to the county's series 2011 GO bond anticipation notes (BANs), consisting of metropolitan district BANs (first issue) and consolidated public improvement BANs. At the same time, Standard & Poor's affirmed its 'AAA' long-term rating, with a stable outlook, on the county's existing GO debt and its 'AA+' long-term rating and underlying rating (SPUR), with a stable outlook, on the county's appropriation-backed debt. Standard & Poor's also affirmed its 'A-1+' short-term rating to the county's commercial paper (CP). The ratings reflect...

Companies mentioned in this report are:
- Baltimore Cnty
- Baltimore Cnty Metro Dist

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

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.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

- Baltimore Cnty
- Baltimore Cnty Metro Dist

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