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Billerica, Massachusetts; Tax Secured, General Obligation; Tax Secured, Note
Standard & Poors, Dec 2003
Abstract
The 'SP-1+' rating on Billerica, Mass.' BANs reflects: Demonstrated market access for bonds and notes; High wealth and income levels; A deep local economy with participation in the greater Boston economy; An adequate financial position, including comfortable reserve fund levels; and A low debt burden. The 'AA-' long-term rating is affirmed. The notes are secured by the full faith and credit pledge of the town. Billerica, population 38,981, is located 23 miles northwest of Boston along Route 3 between Interstates 95 and 495. Such a central location gives residents easy access to most employment centers in the greater Boston economy, including downtown Boston, Cambridge, and the high-tech corridor along I-495. Billerica's local economy is diverse, though with a concentration in...
Companies mentioned in this report are: Billerica Twn
Action: New Rating
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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