Massachusetts; General Obligation, State GO Oct 00
Standard & Poors, October 2000
Abstract
The rating on Massachusetts' GO bonds reflects: Continued strong growth of a more diverse, vibrant, and broadened economic base led by the high-technology, health care, higher education, and business service sectors; A demonstrated track record of strong fiscal discipline and management; The positive effect on the commonwealth's future debt and financial position of the "forward funding" of the Massachusetts Bay Transportation Authority (MBTA), which spun the MBTA off as a self-supporting authority, eliminating the historical open-ended commonwealth subsidies effective July 1, 2000; Significant progress in reducing the unfunded pension liability in recent years with the intention of funding the remaining liability over the next 20 years rather than 30 years; A high debt burden at approximately $2,400 per capita and...
Companies mentioned in this report are:
- Massachusetts
Action: New Rating
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Research Type: Full Analysis
- Massachusetts
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