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Summary: Cumberland County, Maine; General Obligation; Note Feb 12 Product Image

Summary: Cumberland County, Maine; General Obligation; Note Feb 12

  • ID: 2049603
  • February 2012
  • Region: Maine
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services has assigned its 'SP-1+' short-term rating to Cumberland County, Maine's series 2012 general obligation (GO) tax anticipation notes (TANs). Standard & Poor's also affirmed its 'AA+' long-term rating on the county's GO debt. The ratings reflect our view of the county's: GO pledge (AA+/Stable) as security for the series 2012 TANs; Good projected coverage at the time of the notes' maturity; and Sound economy, featuring a very strong per capita market value, and good income levels. The county has annually issued TANs because it collects the majority of its revenues--a levy on the municipal governments within the county--near the end of its fiscal year, which is Dec. 31. The 2012 TANs are payable on Nov....

Companies mentioned in this report are:
- Cumberland Cnty

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

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