Risks around the expected growth of self-supporting debt
could pose potential rating pressure, in the event that funded projects require general government support.
bonds at a value of USD 400 million for the benefit of
When practical, the city will develop, authorize, and issue revenue, special fee, or other self-supporting debt
instruments instead of general obligation bonds.
Direct debt is heavily subsidized by state funds totaling 65% of annual debt service, which Fitch considers to be self-supporting debt
3% of revenue, and include self-supporting debt
paid from non-tax revenues including utility revenues of the provincial-owned BC Hydro.
When self-supporting debt
is excluded, Washington County is closer to the average ratios for the Maryland peer group (see Exhibit 4, for example).
Fitch no longer considers this to be self-supporting debt
5 million and includes total borrowing of over $112 million, compared to about $767 million of outstanding debt excluding self-supporting debt
Overall net debt excludes self-supporting debt
that is unlikely to be paid from the tax base itself because it has its own revenue stream (i.
MODERATE OVERALL DEBT: Overall debt levels remain moderate, aided by the city's direct debt profile that includes considerable self-supporting debt
Beginning in fiscal 2014, a portion of the annual debt cost is expected to be offset by state transportation aid for the city's outstanding series of LTGO pass-through toll revenue bonds, though Fitch does not yet consider these reimbursements as self-supporting debt
Overall debt of Prince George's County, excluding self-supporting debt
of multiple enterprise systems, is low at about $1,950 per capita basis and 1.