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Cambridge, Massachusetts; Tax Secured, General Obligation Dec 01
Standard & Poors, Dec 2001
Abstract
The 'AAA' rating on Cambridge, Mass.' municipal purpose loan of 2001 GO bonds is based on the full faith and credit GO pledge of the city and reflects: Cambridge's wealthy local economy, which draws its considerable strength from education, research, biotechnology, and consulting services; An experienced and innovative management team; Strong financial operations supported by consistently prudent fiscal practices, including budget stabilization reserves; and A low debt burden with a favorable capital improvement plan (CIP). Proceeds of the bonds will be used to fund renovations to a high school, improvements to city hall and the city hall annex, open space improvements, and sewer reconstruction, with the remainder used for construction of the water treatment plant and street reconstruction. Cambridge (population...
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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