Summary: Portsmouth, New Hampshire; General Obligation; Note

S&P Global Ratings assigned its 'AAA' long-term rating to Portsmouth, N.H.'s approximately $25.3 million series 2022 general obligation (GO) bonds and its 'SP-1+' short-term rating to approximately $10.4 million bond anticipation notes (BANs) maturing June 23, 2023. We also affirmed our 'AAA' long-term rating on the city's existing GO bonds. The outlook, where applicable, is stable. The city's full faith and credit pledge secures the bonds and BANs, including the levy and collection of property taxes on all taxable property within the city without limitation as to rate or amount. The short-term note rating reflects our criteria for evaluating and rating BANs. In our view, Portsmouth maintains a very strong capacity to pay principal and interest when the notes come

...S&P Global Ratings assigned its '###' long-term rating to Portsmouth, N.H.'s approximately $25.3 million series 2022 general obligation (GO) bonds and its 'SP-1+' short-term rating to approximately $10.4 million bond anticipation notes (BANs) maturing June 23, 2023. We also affirmed our '###' long-term rating on the city's existing GO bonds. The outlook, where applicable, is stable. The city's full faith and credit pledge secures the bonds and BANs, including the levy and collection of property taxes on all taxable property within the city without limitation as to rate or amount. The short-term note rating reflects our criteria for evaluating and rating BANs. In our view, Portsmouth maintains a very strong capacity to pay principal and interest when the notes come due. The city has what we view as a low market risk profile because it has 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....

Summary