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Bedford, Massachusetts; General Obligation; Note Jul 06
Standard & Poors, July 2006
Abstract
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. In addition, Standard & Poor's assigned its 'SP-1+' short term rating to the town's BANs. The outlook on the bonds remains stable. The ratings reflect the town's: High wealth and income levels; Primarily residential property-tax base, with a diverse commercial presence and access to, and participation in, the deep and diverse Boston, Mass. employment base; Favorable financial position supported by a stable revenue source and fund balance reserves that are average; Manageable debt burden, net of state school construction aid; and Good financial management, practicing forward-looking...
Companies mentioned in this report are: Bedford Twn
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: Full Analysis
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