• SELECT SITE CURRENCY
Select a currency for use throughout the site
Summary: Massachusetts; Tax Secured, General Obligation Feb 03
Standard & Poors, February 2003
The 'AA-' rating on Massachusetts' $300.000 million series 2003A GO bonds consolidated loan, $342.865 million series 2003B GO refunding bonds, and $316.840 million series 2003C GO refunding bonds (delayed delivery) reflects: The commonwealth's fundamentally diverse and broad economy, despite the economic slowdown, driven by the high-technology, health care, education, and financial services sectors; A decade-long track record of strong financial discipline and management that has contributed to strong reserves, which, although diminished in 2003, still provide some flexibility in this economic climate; The positive effect from the "forward funding" of the Massachusetts Bay Transportation Authority, which the commonwealth spun off as a self-supporting authority on July 1, 2000, eliminating the commonwealth's historical open-ended subsidies; and High wealth and income levels,...
Companies mentioned in this report are:
Action: New Rating
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.