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Massachusetts GO Debt Raised To 'AA+' From 'AA' On Improved Financial, Debt, And Budget Management Practices Sep 11 Product Image

Massachusetts GO Debt Raised To 'AA+' From 'AA' On Improved Financial, Debt, And Budget Management Practices Sep 11

  • ID: 1921290
  • September 2011
  • Region: Massachusetts
  • Standard & Poors

Abstract
NEW YORK (Standard & Poor's) Sept. 16, 2011--Standard & Poor's Ratings Services raised its rating on Massachusetts- general obligation (GO) debt to 'AA+' from 'AA'. The outlook is stable. At the same time, Standard & Poor's assigned its 'AA+' rating to the commonwealth's $475 million GO bonds, consolidated loan of 2011, series D. "The upgrade reflects Massachusetts' ongoing progress in improving financial, debt, and budget management practices, while at the same time implementing cost-control and reform measures associated with its long-term liabilities," said Standard & Poor's credit analyst Robin Prunty. "The upgrade also reflects the commonwealth's commitment to its stabilization fund," Ms. Prunty added. Formalized policies relating to debt affordability, capital investment planning, financial planning, and enhanced funding of the...

Companies mentioned in this report are:
- Massachusetts

Action: New Rating
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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