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Summary: Berlin, Connecticut; General Obligation; Note May 11
Standard & Poors, May 2011
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: New Rating
Action: Outlook: Stable
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.
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