TITLE

S&P Lifts Baltimore's Outlook to Positive Ahead of $48M GO Sale

AUTHOR(S)
Ackerman, Andrew
PUB. DATE
May 2006
SOURCE
Bond Buyer;5/26/2006, Vol. 356 Issue 32390, p4
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the upgradation of credit-rating for Baltimore city, Maryland, to A-plus by Standard & Poor two weeks prior to the city's planned competitive sale of about $47.6 million in general obligation bonds. The upgradation reflects Baltimore's strong financial health as well as its improving demographic profile, stabilizing population, and reduced unemployment. Proceeds from the sale will be absorbed to reimburse the city for expenditure already incurred from various projects involving schools, libraries, parks, and recreation facilities. Meanwhile, other credit-rating agencies such as Fitch Ratings Inc. and Moody's Investors Service Inc. have also affirmed the upgraded rating for the city, with the former giving it A-plus rating and the latter giving it an A1 rating.
ACCESSION #
21043144

 

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