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Summary: Danvers, Massachusetts; General Obligation Jun 08
Standard & Poors, June 2008
Standard & Poor's Ratings Services assigned its 'SP-1+' rating to Danvers, Mass.' bond anticipation notes (BANs) and its 'AA+' rating to the town's general obligation (GO) bonds series 2008, and affirmed its 'AA+' standard long-term rating and underlying rating (SPUR) on the town's GO bonds. The outlook is stable. The ratings reflect the town's: Healthy local economy, coupled with easy access to the deep and diverse Boston-area employment base; Above-average wealth indicators; Stable financial position, supported by a sound general fund balance, multiple separate reserve funds, an experienced management team, and good financial policies; and Favorable debt burden. The town's full faith and credit pledge secures the BANs and the bonds. Proceeds from the BANs will be used to renew...
Companies mentioned in this report are:
- Danvers Twn
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.
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.
- Danvers Twn