Summary: North Adams, Massachusetts; General Obligation Mar 11

Standard & Poors, March 2011

Abstract
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: Affirmed
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.

North Adams

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