- Language: English
- 43 Pages
- Published: September 2008
- Region: United States
Summary: Worcester, Massachusetts; General Obligation Jun 11
- Published: June 2011
- Region: Massachusetts
- Standard & Poors
Standard & Poor's Ratings Services has assigned its 'A-' long-term rating to Worcester, Mass.' general obligation (GO) refunding bonds, and affirmed its 'A-' long-term rating and underlying rating (SPUR), with a stable outlook, on the city's existing long-term debt. The rating reflects what we view as Worcester's: Diversifying economy, shifting from manufacturing to the service sector and benefitting from 10 colleges and universities and a strong health care sector; Large and diverse property tax base and unused levy capacity of $10 million, under limits that apply to the commonwealth, despite a significant reduction in assessed value (AV) for fiscal 2010; and Good financial management policies. These strengths are mitigated, in part, by our view of the city's: Adequate general fund...
Companies mentioned in this report are:
Action: New Rating
Action: Outlook: Stable
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