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Dennis, MA GO Bond Rating Raised To 'AA+'; Outlook Stable Apr 10 Product Image

Dennis, MA GO Bond Rating Raised To 'AA+'; Outlook Stable Apr 10

  • ID: 1928409
  • April 2010
  • Standard & Poors

Abstract
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...

Companies mentioned in this report are: Dennis
Action: Outlook: Stable
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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Dennis

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