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City gets good news for taxpayers (Portsmouth's muni bond rating goes up)
Seacost Online ^ | 06/19/08

Posted on 06/21/2008 7:03:29 AM PDT by TigerLikesRooster

City gets good news for taxpayers

Upgraded bond rating sign of strong finances

June 19, 2008 6:00 AM

PORTSMOUTH — The city announced that Moody's Investors Service, one of the nation's largest bond rating agencies, has upgraded the city's bond rating from Aa3 to Aa2, citing strong financial management, continuing growth, a large tax base and low debt burden as positive factors.

"The upgrade to the Aa2 rating is driven by the city's healthy economy, which appears to be bucking national economic trends as development activity continues in this sizeable and diverse tax base and a continuing trend of a strong and stable financial position, evidence by five years of general fund balance exceeding 30 percent of revenues. The Aa2 rating also reflects the city's low overall debt burden," Moody's said.

(Excerpt) Read more at seacoastonline.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: munibonds; portsmouth

1 posted on 06/21/2008 7:03:29 AM PDT by TigerLikesRooster
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To: TigerLikesRooster; Uncle Ike; RSmithOpt; jiggyboy; 2banana; Travis McGee; OwenKellogg; 31R1O; ...

Ping!


2 posted on 06/21/2008 7:04:37 AM PDT by TigerLikesRooster (kim jong-il, chia head, ppogri, In Grim Reaper we trust)
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