Summary: Berlin, Connecticut; General Obligation; Note May 11

Standard & Poors, May 2011

Abstract
Standard & Poor's Ratings Services has assigned its 'AA' long-term rating to the town of Berlin, Conn.'s general obligation (GO) bonds issue of 2011 and affirmed its 'AA' long-term rating on the town's previously issued GO bonds. The outlook is stable. At the same time, Standard & Poor's assigned its 'SP-1+' short-term rating to the town's GO bond anticipation notes (BANs) based on the town's general creditworthiness and demonstrated market access. The 'AA' long-term rating reflects our opinion of the town's: Very strong income and property wealth levels, Strong financial position despite recent and near-term revenue pressure, Good financial management practices and policies, and Favorable debt position with a manageable capital improvement program (CIP) in place. Offsetting these strengths is...

Companies mentioned in this report are:
- Berlin Twn

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

- Berlin Twn

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