Summary: Portsmouth, New Hampshire; General Obligation; Note

S&P Global Ratings assigned its 'AAA' long-term rating to the City of Portsmouth, N.H.'s series 2023 general obligation (GO) bonds totaling about $22.77 million. S&P Global Ratings also assigned its 'SP-1+' short-term rating to the city's GO bond anticipation notes (BANs), totaling about $8.3 million, maturing June 21, 2024. We also affirmed our 'AAA' long-term rating on the city's existing GO bonds and affirmed our 'SP-1+' short-term rating on the city's existing BANs. 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. In our view, Portsmouth maintains a very

...Most recent Historical information 2022 2021 2020 Very strong economy Projected per capita EBI % of U.S. 161 Market value per capita ($) 388,750 Population (no.) 21,006 21,070 County unemployment rate(%) 3.5 Market value ($000) 8,166,077 7,194,931 6,784,387 Ten largest taxpayers % of taxable value 8.1 Strong budgetary performance Operating fund result % of expenditures 1.2 0.7 (1.3) Total governmental fund result % of expenditures 2.7 3.3 0.2 Very strong budgetary flexibility Available reserves % of operating expenditures 40.4 41.8 40.8 Total available reserves ($000) 49,800 48,186 47,351 Very strong liquidity Total government cash % of governmental fund expenditures 83 86 84 Total government cash % of governmental fund debt service 728 729 673 Very strong management Financial Management Assessment Strong Weak debt & long-term liabilities Debt service % of governmental fund expenditures 11.4 11.8 12.4 Net direct debt % of governmental fund revenue 113 Overall net debt % of market value...

Summary