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Medway, MA GO Bond Rating Raised To 'AA' On Stronger Financial Position Jan 12
Standard & Poors, January 2012
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:
Action: New Rating
Action: Outlook: Stable
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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.