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Summary: Bangor, Maine; General Obligation Oct 09 Product Image

Summary: Bangor, Maine; General Obligation Oct 09

  • ID: 2042318
  • October 2009
  • Region: Maine
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services assigned its 'AA' long-term rating to Bangor, Maine's general obligation (GO) bonds, series 2009B. At the same time, Standard & Poor's affirmed its 'AA' rating on the city's outstanding GO debt. The ratings reflect our view of the city's: Position as an employment, retail, and commercial center for the region; Historically strong financial position; Good financial practices; and Low to moderate overall debt burden, with limited plans for new debt. In our opinion, the city's adequate wealth indicators continue to constrain the rating. The city's full faith and credit pledge secures these bonds. Bond proceeds will be used to refund the city's series 1997 and 1998 GO bonds, refinance a lease purchase agreement, and finance...

Companies mentioned in this report are:
- Bangor

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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