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Billerica, Massachusetts; General Obligation; Note Mar 08
Standard & Poors, March 2008
Standard & Poor's Ratings Services raised its rating on Billerica, Mass.' outstanding parity debt to 'AA' from 'AA-'. The upgrade reflects the town's stable financial performance and sound position through various economic cycles, as well as its affluent and diverse tax base. Standard & Poor's also assigned its 'SP-1+' short-term rating to bond anticipation notes (BANs) being issued concurrently. The town will use the proceeds of the bonds and notes for various municipal projects. Additional factors supporting the rating include the town's: Demonstrated market access for bonds and notes; Growing technology-based local economy, which participates in the greater Boston metropolitan statistical area (MSA); Above-average wealth and income levels, with an equalized value per capita of more than $147,364 and median...
Companies mentioned in this report are:
- Billerica Twn
Action: New Rating
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Research Type: Full Analysis
- Billerica Twn