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Massachusetts' Series 2011A And 2011 B Bonds Rated 'AA'; Outlook Positive Mar 11
Standard & Poors, March 2011
NEW YORK (Standard & Poor's) March 18, 2011--Standard & Poor's Ratings Services assigned its 'AA' long-term rating, and positive outlook, to $78.5 million general obligation (GO) refunding bonds 2011 series B and $360 million general obligation bonds, consolidated loan of 2011, series A. At the same time, we affirmed our 'AA' rating on the parity bonds outstanding. The outlook on the commonwealth's GO bonds was revised to positive from stable Feb. 11, 2011, reflecting ongoing progress in improving financial, debt, and budget management practices, while at the same time implementing cost control and reform measures associated with its long-term liabilities. The 'AA' GO rating on Massachusetts reflects our view of the commonwealth's: Strong and conservative budget management practices, with swift...
Companies mentioned in this report are:
Action: New Rating
Action: Outlook: Positive
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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.