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Summary: Massachusetts; Public Finance Structured, Liquidity Facility; Tax Secured, General Obligation Aug 01 Product Image

Summary: Massachusetts; Public Finance Structured, Liquidity Facility; Tax Secured, General Obligation Aug 01

  • Published: August 2001
  • Standard & Poors

FEATURED COMPANIES

Abstract
The 'AA-' rating on Massachusetts' GO bonds consolidated loan of 2001 series C reflects: A diverse, vibrant, and broad economic base driven by the high-technology, health care, education, and financial services sectors; A decade-long track record of strong financial discipline and management; The positive effect on the commonwealth's future debt and financial position from the "forward funding" of the Massachusetts Bay Transportation Authority (MBTA), which spun the MBTA off as a self-supporting authority on July 1, 2000, eliminating the commonwealth's historical open-ended subsidies; Significant progress in reducing the unfunded pension liability, with the unfunded actuarial liability expected to be eliminated by 2018--10 years earlier than originally scheduled; A high debt burden at approximately $2,600 per capita; and High wealth and...

Companies mentioned in this report are:
- Massachusetts

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- Massachusetts

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