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Bourne, MA's Consistently Stable Fiscal Performance, Improved Reserves Bump GO Rating To 'AA-' Jan 09
Standard & Poors, Jan 2009
Abstract
NEW YORK (Standard & Poor's) Jan. 21, 2009--Standard & Poor's Ratings Services raised its standard long-term rating and underlying rating (SPUR) on Bourne, Mass.' general obligation (GO) debt one notch to 'AA-' from 'A+' based on the town's consistently stable financial performance and improved reserves. The outlook is stable. The rating service also assigned its 'SP-1+' short-term rating to the town's $9.954 million series 2009 bond anticipation notes. 'We believe the town's residential community, which straddles both sides of the Cape Cod Canal, consistent, healthy property tax base growth, good wealth and income, and moderate per capita debt levels support the new rating,' said Standard & Poor's credit analyst Danielle Leonardis. In Standard & Poor's opinion, the town's financial position...
Companies mentioned in this report are: Bourne Twn
Action: New Rating
Action: Outlook: Stable
Action: Upgraded
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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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