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Concord, NH's GO Outlook Revised to Stable; Refunding Bonds Rated 'AA' Dec 03 Product Image

Concord, NH's GO Outlook Revised to Stable; Refunding Bonds Rated 'AA' Dec 03

  • ID: 2039675
  • December 2003
  • Standard & Poors

Abstract
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...

Companies mentioned in this report are:
- Concord

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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