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Bangor, ME's GO Rating Raised To 'AA' On Consistently Stable And Solid Financial Position And Management Apr 09
Standard & Poors, April 2009
Abstract
NEW YORK (Standard & Poor's) April 10, 2009--Standard & Poor's Ratings Services raised its long-term rating and underlying rating (SPUR) on Bangor, Maine's general obligation (GO) debt to 'AA' from 'AA-'. The upgrade reflects the city's consistently stable and solid financial position and management. The outlook is stable. At the same time, Standard & Poor's assigned its 'AA' long-term rating, and stable outlook, to Bangor's $3.1 million series 2009A GO bonds. In our opinion, the ratings reflect the city's significant local economy, which is the hub of economic activity for northern and eastern Maine; considerable new growth and development that has occurred over the last several years; stable financial position characterized by historic and current strong reserves; and moderate overall...
Companies mentioned in this report are: Bangor
Action: New Rating
Action: Outlook: Stable
Action: Upgraded
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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