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Baltimore County, Md.'s GO Refunding Bonds Rated 'AAA'; Diverse Economic Base Cited Jan 03
Standard & Poors, Jan 2003
Abstract
NEW YORK (Standard & Poor's) Jan. 9, 2003-Standard & Poor's Ratings Services assigned its 'AAA' rating to Baltimore County, Md.'s $35 million general obligation refunding bonds, reflecting a diverse economic base. The bonds are scheduled to sell on Jan. 13. The outlook is stable. The 'AAA' rating on the county's outstanding GO debt has been affirmed. The rating also reflects growth in a significant $44.7 billion tax base, strong financial performance despite a planned drawdown in reserves, a significant yet manageable six-year capital improvement program totaling $1.3 billion, and a moderate debt burden. 'The stable outlook reflects Standard & Poor's expectation that the county will continue to exhibit sound financial performance and position while managing its significant capital improvement program,'...
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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