• SELECT SITE CURRENCY
Select a currency for use throughout the site
Summary: Grafton, Massachusetts; General Obligation; Note Mar 12
Standard & Poors, March 2012
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: Outlook: Stable
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.