Ocean City Gets Financial Ratings Boost - 47 ABC - Delmarva's Choice

Ocean City Gets Financial Ratings Boost

Posted: Updated:

OCEAN CITY, Md. - Ocean City just got a ratings boost.  Standard & Poor's Rating Services announced that it has raised its rating on Ocean City's general obligation debt outstanding one notch to "AA" up from "AA-."

The upgrade is based on several factors, including the Town's strong wealth and income indicators and strong budgetary performance with a diverse revenue stream.

The change comes as the Town prepares to sell $12.7 million in bonds on December 5. Proceeds from the bonds will finance a performing arts center and beach patrol headquarters, among other projects.

The upgrade also affects $96 million of outstanding debt.

 

  • ContestsMore>>

  • Spring Gas Giveaway

    Spring Gas Giveaway

    Let WMDT fill up your tank! It's time for our Spring Gas Giveaway! More >>
    Enter for your chance to win a $100 Exxon/Mobil Gas Card!More >>
  • Teacher Who Makes A Difference

    Teacher Who Makes A Difference

    The WMDT 47 Teachers Who Make a Difference Contest is Sponsored by Accurate Optical: "Encouraging children of all ages to come in for an annual eye exam to help them see better in school." Each month weMore >>
    The WMDT 47 "Teachers Who Make a Difference" Sponsored by Accurate Optical Encouraging children of all ages to come in for an annual eye exam to help them see better in school.More >>
Powered by WorldNow
Powered by WorldNow All content © Copyright 2000 - 2014 WorldNow and WMDT. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.