Summary: Burlington, Massachusetts; General Obligation; Note Jul 12

Standard & Poors, July 2012

Abstract
Standard & Poor's Ratings Services has assigned its 'SP-1+' rating to Burlington, Mass.' bond anticipation notes (BANs) series 2012 and its 'AA+' long-term rating to the town's general obligation (GO) bonds series 2012. At the same time, Standard & Poor's affirmed its 'AA+' rating, and stable outlook, on the town's long-term GO debt outstanding. The long-term debt to retire the BANs has been authorized. The ratings reflect our assessment of the town's: Good location and tax base, with extremely high per capita market value of more than $170,000; Very strong income levels, with median household effective buying income (EBI) above 160% of the national level; Strong reserve levels that have been maintained at more than 10% of expenditures over the...

Companies mentioned in this report are: Burlington
Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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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.

Burlington

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