Summary: Falmouth, Massachusetts; General Obligation; Note Jun 10

Standard & Poors, June 2010

Abstract
The 'SP-1+' short-term rating assigned to the town of Falmouth, Mass.' general obligation (GO) bond anticipation notes (BANs) is based on the town's underlying credit quality and demonstrated access to credit markets for both bonds and notes. The 'AA+' long-term rating and underlying rating (SPUR) on the town's previously issued GO debt reflects Standard & Poor's Ratings Services' view of the town's: Stable, primarily residential tax base and stable local economy centered on trade, services, leisure, and hospitality; Strong wealth and income levels; Adequate financial position coupled with good financial management practices; and Low-to-moderate debt burden. Falmouth's full faith and credit pledge secures BANs. The town will use the note proceeds to renew BANs originally issued for high school renovations...

Companies mentioned in this report are: Falmouth Twn
Action: Affirmed
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.

Falmouth Twn

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