Fitch rates N.H.’s bonds at ‘AA’


Fitch Ratings has assigned an AA rating to the state of New Hampshire’s $75 million 2005 Series C general obligation refunding bonds. Fitch said it based its ratings on New Hampshire’s strong economy, good debt position, job and income growth, and strengthening financial performance, including a $15 million operating surplus in fiscal 2004 and a preliminary surplus of $66.9 million in fiscal 2005. Detracting issues, the company said, were the state’s reliance on volatile taxes and a relative scarcity of reserves. Fitch also gave an AA rating to approximately $633.7 million in outstanding GO bonds. The Series C GO bonds are expected to be sold on Dec. 6. -- CINDY KIBBE
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