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

Standard & Poors, September 2011

Abstract
Standard & Poor's Ratings Services has assigned its 'SP-1+' short-term rating to Chatham, Mass.' general obligation (GO) bond anticipation notes (BANs) and affirmed its 'SP-1+' short-term on the town's existing BANs. At the same time, Standard & Poor's affirmed its 'AAA' long-term rating on the town's previously issued GO bonds. The outlook on the long-term rating is stable. The short-term note rating reflects our revised criteria for evaluating and rating bond anticipation notes (BANs). In our view, the city maintains a very strong capacity to pay principal and interest when the notes come due. The town maintains a low market risk profile as it maintains strong legal authority to issue long-term debt to take out the notes and is a...

Companies mentioned in this report are: Chatham
Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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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.

Chatham

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