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Cambridge, Massachusetts; General Obligation Mar 07
Standard & Poors, March 2007
Abstract
Standard & Poor's Ratings Services assigned its 'AAA' rating, and stable outlook, to Cambridge, Mass.' series 2007B and 2007C GO refunding bonds and affirmed its 'AAA' rating, with a stable outlook, on the city's preexisting GO debt. The rating reflects the city's: Continued strong financial position; Dynamic local economy, which is centered on its two major universities and the biotechnology industry, and continued citywide economic redevelopment; High wealth and income factors, including a high market value per capita; Strong and experienced management team that uses detailed modeling to forecast revenue and capital trends; and Low debt burden and favorable capital plan. The city's full faith and credit pledge secures the bonds. Officials will use bond proceeds to refund a portion...
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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