Yarmouth, Mass.'s GO Bond Rating Raised To 'AA-' From 'A+' On Improved Financial Position Apr 09
- ID: 2027982
- April 2009
- Standard & Poors
BOSTON (Standard & Poor's) April 20, 2009--Standard & Poor's Ratings Services has raised its rating on Yarmouth, Mass.' general obligation (GO) bonds outstanding to 'AA-' from 'A+' and assigned its 'AA-' long-term rating to the town's 2009 series A and B bonds. The outlook on the long-term rating is stable. "The upgrade reflects the improvement in the town's financial position, which has stabilized at a good position in the past two years and is projected to increase in fiscal 2009 due, in part, to a one-time revenue receipt," said Standard & Poor's credit analyst Henry Henderson. In our view, the ratings reflect the town's high property wealth and moderate debt burden. The town's full faith and credit pledge secures the...
Companies mentioned in this report are:
Action: New Rating
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.