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Boston; General Obligation, Local GO Nov 98 Product Image

Boston; General Obligation, Local GO Nov 98

  • ID: 2088622
  • November 1998
  • Standard & Poors

Abstract
The rating on Boston, Mass.' bonds reflects: Continuing economic strength in the city and surrounding area; Solid financial performance, driven primarily by dramatic growth in state aid and the strong economy; and Manageable debt burden with debt service at 6% of expenditures and overall net debt per capita at $1,443. An offsetting rating factor is somewhat limited financial flexibility under Proposition 2 1/2. Additionally, staffing growth, including public school and public safety personnel, has increased city spending above the rate of inflation. Should revenue growth slow, timely expenditure controls will be necessary. A slowdown in the city's economy could create the need for restrained spending growth and place renewed pressure on the Proposition 2 1/2 tax rate cap. Boston's economy,...

Companies mentioned in this report are:
- Boston

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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