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Baltimore County, Maryland; Appropriations; CP; General Obligation; Note Jul 11
Standard & Poors, July 2011
Abstract
Standard & Poor's Ratings Services assigned its 'A-1+' rating to Baltimore County, Md.'s series 2011 consolidated public improvement and metropolitan district commercial paper (CP) bond anticipation notes (BANs), reflecting the county's full-faith-and-credit general obligation bond rating (AAA/Stable), as well as the liquidity support provided by Mizuho Corporate Bank, Ltd (A+/Stable/A-1). At the same time, Standard & Poor's affirmed its 'AAA' long-term rating, with a stable outlook, on the county's existing general obligation (GO) debt, in addition to its 'A-1+' short-term rating on the county's outstanding CP BANs. The county's GO pledge secures the notes. Management will use series 2011 CP BAN proceeds to retire $81.6 million of outstanding CP BANs, in addition to providing $118 million of additional BANs for...
Companies mentioned in this report are: Baltimore Cnty,Baltimore Cnty Metro Dist
Action: New Rating
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.
Research Type: Full Analysis
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