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Summary: Worcester, Massachusetts; General Obligation; Note Sep 11 Product Image

Summary: Worcester, Massachusetts; General Obligation; Note Sep 11

  • Published: September 2011
  • Standard & Poors

FEATURED COMPANIES

Abstract
Standard & Poor's Ratings Services has revised its ratings on Worcester, Mass.' bond anticipation notes to 'SP-1' from 'SP-1+' following our revised criteria for evaluating and rating bond anticipation notes (BANs). In addition, Standard & Poor's has assigned its 'SP-1' short-term rating to the city's general obligation (GO) bond anticipation notes maturing on Nov. 8, 2012. Standard & Poor's also affirmed its 'A-' long-term rating and underlying rating (SPUR), with a stable outlook, on the city's existing long-term GO debt. The short-term note rating reflects our view of the city's strong capacity to pay principal and interest when the notes come due. In our opinion, the city maintains a low market risk profile, because it maintains strong legal authority to...

Companies mentioned in this report are:
- Worcester

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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- Worcester

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