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S&P Credit Research804 word report
published Nov 06, 2009
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S&P Credit Research
| Abstract: | NEW YORK (Standard&Poor's) Nov. 6, 2009--Standard&Poor's Ratings Services corrected its rating on one maturity of Massachusetts' series 1991A general transportation system bonds, due March 1, 2021, issued through Massachusetts Bay Transportation Authority (MBTA), to 'AA' with a stable outlook from 'AAA' (outlook not meaningful). The 'AA' rating reflects the current underlying rating on the authority's general transportation system debt. On April 9, 1996, we assigned our 'AAA' rating to this maturity of the series 1991A bonds based on incorrect information indicating that the bonds were secured by U.S. government securities in escrow. We subsequently received information from the authority that the bonds were not secured by an escrow and remain obligations of the MBTA system.
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| Brief Excerpt: | RESEARCH Ratings Definitions S&P Corrects Rating And Outlook On Massachusetts Bay Transportation Authority's Series 1991A Bonds Publication date: 06-Nov-2009 Primary Credit Analyst: Robin Prunty, New York (1) 212-438-2081; robin_prunty@standardandpoors....
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| Report Type: | Ratings Action
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| Issuer: | Massachusetts
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| Sector: | Public Finance
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| Country: | United States
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| Region: | United States
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
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