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Summary: Marlborough, Massachusetts; General Obligation; Note Jun 10
Standard & Poors, June 2010
Standard & Poor's Ratings Services assigned its 'SP-1+' short-term rating to Marlborough, Mass.' general obligation (GO) bond anticipation notes and affirmed its 'AA+' long-term rating and underlying rating (SPUR), with a stable outlook, on the city's existing GO debt. The short-term rating reflects the city's underlying credit quality and demonstrated access to credit markets, evidenced by previous note borrowings. The city's bond authorization includes the ability to issue these BANs and the long-term bonds necessary to repay the BANs at maturity. The 'AA+' rating reflects the city's: Stable local economy with a sound commercial and retail base, coupled with access to the area's broader employment bases; Favorable unemployment and strong income levels; Very strong market value and significant unused levy...
Companies mentioned in this report are: Marlborough
Action: New Rating
Action: Outlook: Stable
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