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
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...
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