Concord, NH's GO Outlook Revised to Stable; Refunding Bonds Rated 'AA' Dec 03
- ID: 2039675
- December 2003
- Standard & Poors
NEW YORK (Standard & Poor's) Dec. 2, 2003--Standard & Poor's Ratings Services said today it revised its rating outlook on Concord, N.H.'s approximately $36.5 million of outstanding general obligation debt to stable from positive, reflecting slowed growth as a result of the overall national economic downturn, as well as the expectation that the city will maintain solid reserve levels and a manageable debt position. Standard & Poor's also assigned its 'AA' rating to the city's $4.89 million general obligation refunding bonds, reflecting Concord's strong economic base centered on government employment, strong financial position, average wealth and income levels, and manageable overall debt position. The bonds are secured by Concord's full faith and credit general obligation pledge. Proceeds will be used...
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