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Summary: North Adams, Massachusetts; General Obligation Mar 11
Standard & Poors, March 2011
Standard & Poor's Ratings Services has affirmed its 'A-' ratings on North Adams, Mass.' general obligation (GO) bonds, reflecting the city's: Below-average, albeit adequate, wealth and income measures; Just-adequate financial position, but improved from previous years; and Low debt burden with manageable future capital needs. North Adams serves an estimated population of 13,613 in Berkshire County and is located approximately 21 miles north of Pittsfield, Mass. Income levels in the city are, in our opinion, adequate, with median household effective buying income at 67% of the national level. Market value has decreased by 2.4% since 2008 to $714 million in fiscal 2011; despite the decrease, market value is what we consider adequate at $53,000 per capita. The city closed fiscal...
Companies mentioned in this report are: North Adams
Action: Outlook: Stable
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