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Bedford, MA Debt Rating Raised To 'AAA' Based On Town's Strong Financial Position Jul 06
Standard & Poors, July 2006
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
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.