Summary: Portsmouth, New Hampshire; General Obligation

S&P Global Ratings assigned its 'AAA' long-term rating to Portsmouth, N.H.'s $36 million series 2021 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. 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. The bond proceeds will fund various capital improvement projects previously authorized by the city council as well as currently refund the 2022-2030 maturities from the series 2010 bonds to lower overall debt service costs estimated at net present value savings

...S&P Global Ratings assigned its '###' long-term rating to Portsmouth, N.H.'s $36 million series 2021 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. 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. The bond proceeds will fund various capital improvement projects previously authorized by the city council as well as currently refund the 2022-2030 maturities from the series 2010 bonds to lower overall debt service costs estimated at net present value savings of 13% of the par amount refunded without extending the original maturities....

Summary