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Baltimore County, Maryland; Appropriations; CP; General Obligation Jul 08
Standard & Poors, July 2008
Abstract
The 'AA+' rating on Baltimore County, Md.'s series 2008 Equipment Acquisition Program certificates of participation (COPs) reflects: The strong general creditworthiness of Baltimore County ('AAA' general obligation rating); The county's strong financial performance, coupled with its history of using appropriation-backed debt to fund equipment and capital projects; An absolute and unconditional covenant reflected in the installment purchase agreement to make annual purchase installment payments. The county plans to finance the acquisition of heavy equipment and vehicles for use by the public works and recreation and parks departments; fire trucks, medic units, and public safety equipment; and information technology hardware for various departments, including 911 equipment. The equipment purchase is considered essential, given its use in the delivery of core central...
Companies mentioned in this report are: Baltimore Cnty
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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