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

  • ID: 2043829
  • July 2010
  • Standard & Poors
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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

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Research type: News
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