Standard&Poor's Ratings Services assigned its 'AA' rating, and stable outlook, to Portsmouth, N.H.'s GO bonds. At the same time, Standard&Poor's affirmed its 'AA' rating and underlying rating (SPUR), with a stable outlook, on the city's existing GO debt. The rating reflects the city's: Strong tax base growth, with both new residential construction and commercial/industrial development; Above-average wealth and income levels; Continued strong financial performance and above-average reserve levels; and Moderate and manageable debt burden. The bonds are secured by the city's full faith and credit GO pledge. Proceeds of the new issue will be used to finance various city capital improvement projects, as well as road and sea wall construction. Portsmouth is located along New Hampshire's
