Summary: Grafton, Massachusetts; General Obligation; Note Mar 12
Standard & Poors, March 2012
Abstract
Standard & Poor's Ratings Services has affirmed its 'AA' long-term and underlying ratings on Grafton, Mass.' general obligation (GO) debt outstanding, and its 'SP-1+' short-term rating on the town's series 2011 GO bond anticipation notes (BANs) payable April 1, 2012. The outlook on the long-term rating is stable. The short-term rating reflects our revised criteria for evaluating and rating BANs. In our view, Grafton maintains a very strong capacity to pay principal and interest when the notes come due. The town maintains a low market risk profile: It has strong legal authority to issue long-term debt to take out the notes, and is a frequent issuer that regularly provides ongoing disclosure to market participants. The 'AA' rating reflects our view...
Companies mentioned in this report are: Grafton Twn
Action: Affirmed
Action: Outlook: Stable
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Grafton Twn
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