Bedford, MA Debt Rating Raised To 'AAA' Based On Town's Strong Financial Position Jul 06

  • ID: 2040132
  • July 2006
  • Standard & Poors
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BOSTON (Standard & Poor's) July 18, 2006--Standard & Poor's raised its rating on the Bedford, Mass.' GO bonds to 'AAA' from 'AA+', based on the town's stable and strong financial position, which it has maintained for a number of years. The outlook remains stable. In addition, Standard & Poor's assigned its 'SP-1+' short term rating to the town's $27.685 million BANs. The sales date is July 19. "The town's ability to sustain operating flexibility with above-average reserves, while maintaining excess taxing margins without the need for a Proposition 2 1/2 override during the recent period of lower state aid, is a testament to Bedford's long-term planning and management approach, which is a hallmark of 'AAA'-rated credits," said Standard & Poor's...

Companies mentioned in this report are:
- Bedford Twn

Action: New Rating
Action: Outlook: Stable
Action: Upgraded

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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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- Bedford Twn

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