Summary: Portsmouth, New Hampshire; General Obligation

S&P Global Ratings assigned its 'AAA' long-term rating to Portsmouth, N.H.'s series 2019 general obligation (GO) capital improvement loan bonds. At the same time, S&P Global Ratings affirmed its 'AAA' long-term rating on the city's GO debt outstanding. The outlook is stable. The rating reflects our view of the city's economic diversity and strength anchored by the Pease International Tradeport and the Portsmouth Naval Shipyard, which together generate $1.2 billion in payroll for residents in the area. The broad economic base, management's commitment to maintain sizable reserves, and the city's manageable debt and long-term liability profile despite the state's low-funded pension plan underpin the 'AAA' long-term rating. Securing the debt service on the bonds is the city's full faith and

...S&P Global Ratings assigned its '###' long-term rating to Portsmouth, N.H.'s series 2019 general obligation (GO) capital improvement loan bonds. At the same time, S&P Global Ratings affirmed its '###' long-term rating on the city's GO debt outstanding. The outlook is stable. The rating reflects our view of the city's economic diversity and strength anchored by the Pease International Tradeport and the Portsmouth Naval Shipyard, which together generate $1.2 billion in payroll for residents in the area. The broad economic base, management's commitment to maintain sizable reserves, and the city's manageable debt and long-term liability profile despite the state's low-funded pension plan underpin the '###' long-term rating. Securing the debt service on the bonds is the city's full faith and credit, including the levy and collection of property taxes on all taxable property within the city without limitation as to rate or amount. Proceeds from the sale of bonds will be used to fund various capital...

Summary