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Summary: Cambridge, Massachusetts; General Obligation Feb 11
Standard & Poors, February 2011
Standard & Poor's Ratings Services assigned its 'AAA' rating, and stable outlook, to Cambridge, Mass.' general obligation (GO) municipal purpose loan of 2011 bonds and affirmed its 'AAA' rating, with a stable outlook, on the city's GO parity debt. The rating reflects our opinion of the city's: Strong and dynamic local economy, anchored by 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; Very strong financial position, despite a decline in fiscal 2009, 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...
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Action: New Rating
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