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Massachusetts' $500 Million GO Bonds Rated 'AA-' Sep 99

  • ID: 1804978
  • September 1999
  • Region: Massachusetts
  • Standard & Poors
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NEW YORK (Standard & Poor's CreditWire) Sept. 20, 1999--Standard & Poor's assigned its double-'A'-minus rating to Massachusetts' $500 million GO bonds due Sept. 1, 2019. The bonds are scheduled to sell Sept. 21, 1999. At the same time, Standard & Poor's affirmed its double-'A'-minus rating on the commonwealth's $6.4 billion of outstanding GO debt. The bonds are secured by the commonwealth's full faith and credit GO pledge. The rating reflects: -- Continued strong economic growth across many sectors, including construction, business services, finance, insurance, real estate, and wholesale trade; -- A very strong financial position, evidenced by the fact that fiscal 1999 is projected to produce another surplus for the eighth consecutive year; -- A high debt burden; -- High...

Companies mentioned in this report are:
- Massachusetts

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.

Research type: News
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- Massachusetts

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