Dennis, MA GO Bond Rating Raised To 'AA+'; Outlook Stable Apr 10
- ID: 1928409
- April 2010
- Standard & Poors
BOSTON (Standard & Poor's) April 28, 2010--Standard & Poor's Ratings Services has raised its long-term rating and underlying rating (SPUR) on Dennis, Mass.' general obligation bonds to 'AA+' from 'AA', reflecting the town's strong financial profile, driven by an extremely strong residential property tax base and supported by stability in tax revenues and a strong level of reserves. The outlook is stable. Additional factors include: A local economy that is seasonal, second home in nature, and tied to tourism; Good financial management practices; and Low debt burden. "We expect that the town will continue to make the necessary cost adjustments in order to maintain balanced operating results, and that the town will continue to maintain both its general fund reserves...
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Action: Outlook: Stable
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