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Medway, MA Outlook Revised To Positive On Improved Financial Operations Jul 10 Product Image

Medway, MA Outlook Revised To Positive On Improved Financial Operations Jul 10

  • ID: 2043829
  • July 2010
  • Standard & Poors

Abstract
NEW YORK (Standard & Poor's) July 26, 2010--Standard & Poor's Ratings Services said it revised its outlook on the 'AA-' rating on Medway, Mass.'s outstanding general obligation (GO) debt to positive from stable. At the same time, it assigned its 'AA-' rating and positive outlook to the town's series 2010A and B refunding GO bonds. "The outlook revision reflects the town's improved financial operations and reserve levels," said Standard & Poor's credit analyst Nicole Ridberg. The rating reflects Medway's: Stable economy with additional access to the greater Boston metropolitan statistical area (MSA); Primarily residential tax base with very strong wealth and income levels; Improved financial performance since the issuance of deficit financing in fiscal 2006; and Low net debt burden...

Companies mentioned in this report are:
- Medway

Action: Affirmed
Action: New Rating
Action: Outlook: Positive

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.

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Medway

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