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Cambridge,MA's $27.9M GO Bonds Rated 'AAA'; Outlook Stable Oct 99
Standard & Poors, Oct 1999
Abstract
NEW YORK (Standard & Poor's CreditWire) Oct. 22, 1999--Standard & Poor's today assigned its triple-'A' rating to Cambridge, Mass.' $27.94 million GO bonds (Municipal Purpose Loan of 1999) dated Nov. 1, 1999 due Nov. 1, 2019. In addition, Standard & Poor's raised its rating on the city's $105.60 million outstanding GO debt to triple-'A' from double-'A'-plus. The outlook is stable. The rating upgrade reflects continued economic diversification and tax base expansion, strong financial operations, and considerable financial flexibility despite Proposition 2-1/2 limitations. Other rating factors include: -- A diversified, growing tax base that is anchored by two of the nation's most respected and wealthy universities and research centers that are complemented by high-technology, biotechnology, and financial services industries; -- Solid...
Companies mentioned in this report are: Cambridge
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: 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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