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Billerica, Massachusetts' Parity Debt Rating Raised To 'AA' From 'AA-'; Outlook Stable
Standard & Poors, March 2008
Abstract
BOSTON (Standard & Poor's) March 14, 2008--Standard & Poor's Ratings Services said today that raised its rating on Billerica, Mass.' outstanding parity debt to 'AA' from 'AA-. The outlook on the 'AA' rating is stable. 'The rating upgrade reflects the town's stable financial performance and sound position through various economic cycles, as well as its affluent and diverse tax base,' said Standard & Poor's credit analyst Victor Medeiros. Additional factors supporting the rating include the town's demonstrated market access for bonds and notes, a growing technology-based local economy (which participates in the Greater Boston metropolitan statistical area), above-average wealth and income levels, below-average overall net burden, and manageable future capital needs. In addition, Standard & Poor's assigned its 'AA' rating...
Companies mentioned in this report are: Billerica Twn
Action: New Rating
Action: Upgraded
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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