|
|
 |
|
Viewing report
|
|
|
|
Bangor, Maine; General Obligation May 06
Standard & Poors, May 2006
Abstract
Standard & Poor's Ratings Services assigned its 'AA-' rating, and stable outlook, to Bangor, Maine's series 2006 GO bonds and GO refunding bonds. The rating reflects the city's: Significant local economy, which is the hub of economic activity for northern and eastern Maine; Continued sound and stable financial position, coupled with strong management and financial policies; and Moderate overall debt burden, coupled with modest borrowing needs. The city's below-average wealth levels constrain the rating. The city's full faith and credit pledge secures the bonds. Officials will use the majority of bond proceeds to continue the construction of a new $8 million police station. Bangor, with an estimated population of 31,473, is the state's third-largest city, 140 miles northeast of Portland,...
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: Full Analysis
|
|
|
|
