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Summary: Harwich, Massachusetts; General Obligation Sep 11

  • ID: 1924946
  • September 2011
  • Region: Massachusetts
  • Standard & Poors

Standard & Poor's Ratings Services assigned its 'AA+' long-term rating and stable outlook to Harwich, Mass.' series 2011 general obligation (GO) bonds. At the same time, we affirmed our 'AA+' long-term rating, with a stable outlook, on the town's existing GO debt. The ratings reflect our view of the town's: Extremely strong property wealth levels due to its oceanfront location; Good financial management policies; and Moderate-to-low debt burden, coupled with rapid amortization. Offsetting factors are the town's reserves, which despite being at a level we consider good, have been decreasing due to pay-go spending for capital projects. The bonds are a general obligation of the town, for which its full faith and credit is pledged. Harwich officials will use bond...

Companies mentioned in this report are:
- Harwich

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

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