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Cambridge, Massachusetts; General Obligation Mar 09
Standard & Poors, March 2009
Abstract
Standard & Poor's Ratings Services assigned its 'AAA' rating, and stable outlook, to Cambridge, Mass.' series 2009 general obligation (GO) municipal purpose loan of 2009 bonds and affirmed its 'AAA' rating, with a stable outlook, on the city's GO parity debt. In our opinion, the rating reflects the city's: Strong and dynamic local economy, centered on Harvard University and Massachusetts Institute of Technology (MIT), as well as biotechnology and high-tech firms; Above-average wealth and income factors, including a high market value per capita; Strong financial position, coupled with an experienced management team, and strong management policies; and Low debt burden and manageable capital plan. The city's full faith and credit pledge secures the bonds. Officials will use bond proceeds to...
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: Full Analysis
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