Moody's Investors Service has assigned a Aa2 to the city of Annapolis, Md.'s $11.5 million public improvement bonds, 2015 Series A and $21.3 million public improvement refunding bonds, 2015 Series B.
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Concurrently, Moody's has upgraded to Aa2 from Aa3/positive the rating on $108.8 million of outstanding general obligation debt.
The upgrade to Aa2 reflects the city's recently improved financial position due to conservative budget and proactive management. The rating also reflects the city's sizable and diverse tax base, above average demographic profile, and manageable debt burden.
