Summary: Augusta, Maine; General Obligation

S&P Global Ratings has assigned its 'AA' rating to Augusta, Maine's 2021 general obligation (GO) bonds and affirmed its 'AA' rating on the city's GO debt outstanding. The outlook is stable. The city's full-faith-and-credit pledge secures the bonds. Augusta can levy ad valorem property taxes for bond repayment, subject to limitations of the state's LD-1 legislation. We rate the limited-tax GO debt on par with our view of Augusta's general creditworthiness, since the ad valorem tax is not derived from a measurably narrower tax base and there are no limitations on the fungibility of resources, which supports our view of the town's overall ability and willingness to pay debt service. We understand bond proceeds will be used for repair and

...S&P Global Ratings has assigned its '##' rating to Augusta, Maine's 2021 general obligation (GO) bonds and affirmed its '##' rating on the city's GO debt outstanding. The outlook is stable. The city's full-faith-and-credit pledge secures the bonds. Augusta can levy ad valorem property taxes for bond repayment, subject to limitations of the state's LD-1 legislation. We rate the limited-tax GO debt on par with our view of Augusta's general creditworthiness, since the ad valorem tax is not derived from a measurably narrower tax base and there are no limitations on the fungibility of resources, which supports our view of the town's overall ability and willingness to pay debt service. We understand bond proceeds will be used for repair and reconstruction of public facilities and streets as well as the acquisition of fire safety and medical services equipment....

Summary