Summary: Massachusetts; Appropriation, General Obligation Equivalent Security; Tax Secured, General Obligation; Tax Secured, Miscellaneous Tax May 06
Standard & Poors, May 2006
Abstract
Standard & Poor's Ratings Services assigned its 'AA' rating to Massachusetts' GO refunding bonds series 2006A and affirmed its 'AA' rating on the commonwealth's GO and related guaranteed debt backed by its full faith pledge. The rating reflects: A demonstrated track record of managing through the recent recession without the use of onetime revenues, which many other states have employed; Reserve levels that have been rebuilt--beginning in fiscal 2004, carrying through fiscal 2005, and projected for fiscal 2006--reversing a trend of declines in fiscals 2002 and 2003 caused by the economic slowdown; Greater budget certainty following the spinoff of the Massachusetts Bay Transportation Authority (MBTA) and the School Building Authority (SBA), two former large budget commitments that, if not addressed,...
Companies mentioned in this report are:
- Massachusetts
- Massachusetts Bay Transp Auth
- Massachusetts St Coll Bldg Auth
- University of Massachusetts Bldg Auth
- Foxborough Twn
Action: Affirmed
Action: New Rating
Action: Outlook: Stable
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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.
- Massachusetts
- Massachusetts Bay Transp Auth
- Massachusetts St Coll Bldg Auth
- University of Massachusetts Bldg Auth
- Foxborough Twn
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