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Baltimore County, Maryland; Tax Secured, General Obligation May 02
Standard & Poors, May 2002
Abstract
The rating on Baltimore County, Md.'s certificates of participation reflects: The strong general creditworthiness of Baltimore County; The strong essentiality of the project, which will act as a primary office facility for the county and state government; A sound history of use and budgeting to repay appropriation-backed debt, coupled with strong management practices; and 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 department; fire trucks; medic units and public safety equipment; and information technology hardware for various departments, including 911 equipment. The essentiality of the equipment purchase is strong given its use in...
Companies mentioned in this report are: Baltimore Cnty
Action: Affirmed
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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