Massachusetts' Series 2013A Commonwealth Transportation Fund Revenue Bonds Rated 'AAA' With A Stable Outlook Oct 13
- Language: English
- Published: October 2013
- Region: Massachusetts
Standard & Poor's Ratings Services assigned its 'AAA' long-term rating, and stable outlook, to Massachusetts' series 2012A commonwealth transportation fund's (CTF) revenue bonds (accelerated bridge program). At the same time, Standard & Poor's affirmed its 'AAA' rating, with a stable outlook, on the commonwealth's gas tax bonds (senior lien and subordinated lien) outstanding. The CTF bonds are secured by pledged revenues that include gasoline taxes and motor vehicle registration fees levied statewide. The gas tax bonds are secured by a first lien on 6.86 cents of the state levied gas tax. We base the ratings on what we view as the following credit strengths: A strong and diversified revenue mix that is levied statewide (population of 6.5 million) and has...
Companies mentioned in this report are:
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.
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. SHOW LESS READ MORE >