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Summary: Portland, ME; Tax Secured, General Obligation Mar 04

  • ID: 2045312
  • March 2004
  • Standard & Poors
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Abstract
Standard & Poor's Ratings Services assigned its 'AA' rating, and stable outlook, to Portland, Maine's $18.7 million series 2004A GO bonds and $1.0 million series 2004B GO taxable bonds. The rating reflects the city's: Role as the commercial, industrial, and transportation hub for the state's southern region; Sound financial operations, guided by prudent formal policies; Average wealth indicators; and Moderate debt burden and a capital improvement plan (CIP) that adheres to a city-council-adopted, $10-million annual cap on noncombined sewer overflow issuance. The city's full faith and credit pledge secures the bonds. Portland, with a population of 64,249, is Maine's center for health care and its financial center since it is home to many of the state's most important banks; several...

Companies mentioned in this report are:
- Portland

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

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, READ MORE >

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Portland

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