Standard & Poor's Ratings Services assigned its 'AA+' rating and stable outlook to Prince George-s County, Md.'s series 2012 certificates of participation (COPs), issued for the equipment acquisition program, and affirmed its 'AA+' rating, with a stable outlook, on the county's existing appropriation-backed debt. Standard & Poor's also affirmed its 'AAA' rating, with a stable outlook, on the county's general obligation (GO) debt. The 'AA+' rating reflects our view of the county's: Strong general creditworthiness of the county as lessee ('AAA' GO debt rating); Demonstrated commitment to repaying appropriation-backed obligations; and Strong contractual provisions, including an absolute and unconditional payment provision, subject to appropriation. Purchase installments made by Prince George's County, subject to annual appropriation, secure the series 2012 COPs....
Companies mentioned in this report are:
- Prince George's Cnty
- Maryland Natl Cap Pk & Planning Comm
- Maryland Transp Auth
- Prince George's Cnty Indl Dev Auth
Action: New Rating
Action: Outlook: Stable
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