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Summary: Danvers, Massachusetts; General Obligation; Note Jun 11
Standard & Poors, June 2011
Standard & Poor's Ratings Services has assigned its 'SP-1+' short-term rating to Danvers, Mass.' general obligation (GO) bond anticipation notes (BANs) and its 'AA+' long-term rating to the town's 2011 GO municipal loan of 2011 bonds. Standard & Poor's also affirmed its 'AA+' long-term rating and underlying rating (SPUR) on the town's existing GO debt. The outlook is stable. The 'AA+' ratings reflect our opinion of the town's: Healthy local economy, coupled with easy access to the Boston area's deep and diverse employment base; Strong household income levels and extremely strong per capita market value; Strong general fund balance, in addition to multiple separate reserve funds and good financial policies and practices; and Low overall net debt burden. The 'SP-1+'...
Companies mentioned in this report are:
- Danvers Twn
Action: New Rating
Action: Outlook: Stable
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