...S&P Global Ratings assigned its 'SP-1+' short-term rating to the Metropolitan District Hartford County (MDC), Conn.'s general obligation (GO) bond anticipation notes (BANs), reflecting the district's very strong capacity to pay principal and interest when the notes come due. The district maintains a low market risk profile with strong legal authority to issue long-term debt to take out the notes, and is a frequent issuer that regularly provides ongoing disclosure to market participants. The notes will mature on Aug. 30, 2017. At the same time, S&P Global Ratings affirmed its '##' rating and negative outlook on the district's debt outstanding. The negative outlook reflects the ongoing uncertainty of the City of Hartford's financial condition and the risks it could present to MDC operations. The city represents 26% of MDC's tax base, and remits 15.7% of total general fund revenue (or 6.8% of total general and proprietary fund revenue). The district's full faith and credit pledge secures the...
