There is a wealth of in-depth financial information on virtually every aspect for the municipalities seeking to issue bonds.
In fact, it even shows where the pension funds have been invested and the unfunded liabilities.
Now - I would like for you to know that Wicomico was issued new financial ratings just a few days ago as they prepare for the bond sale that is slated for October 13, 2012. The county council hearing to discuss the sale of this new issue is this tuesday night.
Fitch - (AA-)
Moody's - (Aa3)
S&P - (AA-)
The best possible rating is AAA but Wicomico still maintains the same rating as the last municipal bond release back in 2010 - for the expansion of
Fruitland's Waste Water Treatment Plant, and the renovation of a few schools. http://emma.msrb.org/IssueView/IssueDetails.aspx?id=EA339869
Now bare in mind - that all of the above noted rating agencies receive payment for their placement of ratings from the bond issuer. The only independent bond rating agency that does not get compensated by the bond issuers is Egan & Jones. You see unlike Fitch, Moody's, S&P - Egan & Jones gets compensated by the investers who will be purchasing the bonds and advancing the payments. As you already probably know - this has gotton national attention recently as Egan & Jones were the first to downgrade the US credit rating. Also - this all developed as Fannie Mae & Freddie Mac were issued a clean bill of health right up until they filed for bankruptcy.
1 comment:
Does anyone know Wicomico total debt currently and the interest rates? Is this info online anywhere?
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