Summary: Portsmouth, New Hampshire; General Obligation May 10

Standard & Poors, May 2010

Abstract
The 'AA+' long-term rating assigned to Portsmouth, N.H.'s 2010 general obligation (GO) capital improvement bonds reflects the city's: Location in, participation in, and access to large regional employment centers; Diverse property tax base and extremely strong per capita market values; Very strong financial position, with strong management practices and policies; and Moderate-to-low debt burden. The city's full faith and credit GO pledge secures the bonds. Officials will use bond proceeds to finance the city's middle school construction project, school improvements, and various other capital improvement projects. Portsmouth, with an estimated 2008 population of 20,808, is located along New Hampshire's Atlantic Coast, approximately 50 miles south of Portland, Maine (AA/Stable) and 50 miles north of Boston (AA+/Stable). The city benefits from...

Companies mentioned in this report are: Portsmouth
Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Portsmouth

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