Standard&Poor's Ratings Services raised its long-term rating and underlying rating (SPUR) on Portsmouth, N.H.'s general obligation (GO) debt one notch to 'AA+' from 'AA' based on the city's favorable economic indicators, demonstrated consistent financial position, good management practices, and moderate-to-low debt burden. The outlook is stable. Standard&Poor's also assigned its 'AA+' long-term rating, and stable outlook, to the city's series 2009 GO capital improvement bonds. The ratings also reflect the city's: Location, participation, and access to large regional employment centers; Diverse property tax base and extremely strong per capita market values; Very strong financial position; and Moderate-to-low debt burden, after factoring in self-supporting enterprise debt and appropriated state support for school-related debt outstanding. The city's full
