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Baltimore County, Maryland; Tax Secured, General Obligation Feb 04
Standard & Poors, Feb 2004
Abstract
The 'AAA' rating on Baltimore County, Md.'s GO bonds reflects: A deep and diverse economic base; A large and diverse tax base, along with ongoing healthy tax base growth; Strong financial performance; A significant yet manageable six-year capital improvement program (CIP) totaling $1.3 billion; and A moderate debt burden, along with satisfactory amortization of outstanding principal. The bonds are secured by the county's full faith and credit GO pledge. Of the total par amount, $24.7 million will be used to refund Baltimore County Metropolitan District's bonds; $42.8 million will be used to refund Baltimore County's consolidated public improvement bonds; $48.0 million will be used to retire Baltimore County Metropolitan District's CP notes coming due; and $152.0 million will be used...
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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