Massachusetts' $500 Million GO Bonds Rated 'AA-' Sep 99
- ID: 1804978
- September 1999
- Region: Massachusetts
- Standard & Poors
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...
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Research type: News
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