Massachusetts' Series 2012A Commonwealth Transportation Fund Revenue Bonds Rated 'AAA'; Outlook Stable May 12

Standard & Poors, May 2012

Abstract
NEW YORK (Standard & Poor's) May 1, 2012--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 strong credit structure supporting the bonds insulates bondholders from future volatility or deterioration of pledged revenues, and we expect coverage levels to remain strong despite additional planned debt issuance," said Standard & Poor's credit analyst Robin Prunty. The CTF bonds are secured by pledged revenues that include gasoline taxes and motor vehicle registration fees levied statewide. The gas tax...

Companies mentioned in this report are: Massachusetts
Action: Affirmed
Action: New Rating

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Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

Massachusetts

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