Summary: Portsmouth, New Hampshire; General Obligation; Note

S&P Global Ratings assigned its 'AAA' long-term rating and stable outlook to Portsmouth, N.H.'s series 2018 general obligation (GO) capital improvement loan bonds and affirmed its 'AAA' long-term rating, with a stable outlook, on the city's existing GO debt. At the same time, S&P Global Ratings assigned its 'SP-1+' short-term rating to Portsmouth's series 2018 GO bond anticipation notes (BANs), payable on June 21, 2019, and affirmed its 'SP-1+' rating on the city's existing short-term debt. The city's full-faith-and-credit pledge secures the bonds and BANs. Officials intend to use series 2018 bond proceeds to fund various capital improvement projects and series 2018 BAN proceeds to renew existing BANs. The short-term rating reflects our view of the city's strong ability to

...S&P Global Ratings assigned its '###' long-term rating and stable outlook to Portsmouth, N.H.'s series 2018 general obligation (GO) capital improvement loan bonds and affirmed its '###' long-term rating, with a stable outlook, on the city's existing GO debt. At the same time, S&P Global Ratings assigned its 'SP-1+' short-term rating to Portsmouth's series 2018 GO bond anticipation notes (BANs), payable on June 21, 2019, and affirmed its 'SP-1+' rating on the city's existing short-term debt. The city's full-faith-and-credit pledge secures the bonds and BANs. Officials intend to use series 2018 bond proceeds to fund various capital improvement projects and series 2018 BAN proceeds to renew existing BANs. The short-term rating reflects our view of the city's strong ability to pay principal and interest when the BANs come due. Portsmouth's market-risk profile is low, in our view, because it maintains strong legal authority to issue long-term debt to take out the BANs and it is a frequent issuer...

Summary