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Agawam, MA's Consistent Operating Results, Very Strong Reserves Nudge GO Debt Rating To 'AA' Nov 08
Standard & Poors, Nov 2008
Abstract
BOSTON (Standard & Poor's) Nov. 13, 2008--Standard & Poor's Ratings Services raised its standard long-term rating and underlying rating (SPUR) on Agawam, Mass.' general obligation (GO) debt one notch to 'AA' from 'AA-' based on its assessment of the town's continuing ability to manage and maintain consistent operating results and very strong financial reserves through various economic cycles. The outlook is stable. The rating service also assigned its 'AA' standard long-term rating, and stable outlook, to the town's series $7.33 million series 2008 GO bonds. In Standard & Poor's opinion, additional rating factors include the town's stable economic base, participating in the Springfield, Mass. metropolitan statistical area economy, with easy access to Hartford, Conn. and other regional employment centers; historically...
Companies mentioned in this report are: Agawam
Action: New Rating
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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