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: Yarmouth
Action: New Rating
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Research type: News
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