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Bangor, ME's GO Bonds Rated 'AA-'; Outlook Stable Jan 01
Standard & Poors, Jan 2001
Abstract
BOSTON (Standard & Poor's CreditWire) Jan. 26, 2001-- Standard & Poor's today assigned its double-'A'-minus rating to Bangor, Maine's $5.82 million GO bonds series 2001 dated Feb. 15, 2001, due April 1, 2002-2021. The bonds are scheduled to sell Jan. 30, 2001. The outlook is stable. The rating reflects the city's: -- Position as the center of economic activity for the northern and eastern portions of Maine, -- Sound and consistent financial position with strong financial policies and management, -- Below-average wealth levels, and -- Moderate and manageable debt burden. The city's GO pledge secures the bonds. Bangor, the third largest city in Maine with a population of 30,000, is 140 miles northeast of Portland, Maine. The city is the...
Companies mentioned in this report are: Bangor
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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