Medway, MA GO Bond Rating Raised To 'AA' On Stronger Financial Position Jan 12
Standard & Poors, January 2012
Abstract
BOSTON (Standard & Poor's) Jan. 23, 2012--Standard & Poor's Ratings Services has raised its long-term rating on Medway, Mass.' general obligation (GO) bonds to 'AA' from 'AA-', reflecting its opinion of the town's stronger financial position, aided by its improved financial management practices. The outlook is stable. At the same time, Standard & Poor's assigned its 'AA' long-term rating to the town's $8.118 million GO municipal purpose bonds series 2012. The outlook is stable. Additional rating factors include: Stable economic profile with additional access to the greater Boston metropolitan statistical area; Primarily residential tax base with very strong wealth and income levels and low tax base concentration; A stable revenue profile and strong reserves; and Low overall net debt burden...
Companies mentioned in this report are:
- Medway
Action: New Rating
Action: Outlook: Stable
Action: Upgraded
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.
Medway
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