North Adams, MA GO Bond Rating Raised To 'A' On Improving Reserves, Strong Budgetary Performance

BOSTON (S&P Global Ratings) March 3, 2017--S&P Global Ratings raised its long-term rating on North Adams, Mass.' general obligation (GO) bonds to 'A' from 'A-'. The outlook is stable. "The upgrade reflects improving reserves, stronger budgetary performance, and increasing property valuations," said S&P Global Ratings credit analyst Victor Medeiros," as improved financial operations have, in turn, raised budgetary reserves to much stronger levels." Additionally, the city's property tax base valuations improved in 2017 to their highest levels in over a decade, which will provide the city the budgetary flexibility to sustain positive budgetary performance. The city's full-faith-and-credit pledge, subject to the limitations of Proposition 2-1/2, secures the bonds. The city's full-faith-and-credit pledge secures the bonds. North Adams, with an estimated

...BOSTON (S&P Global Ratings) March 3, 2017--S&P Global Ratings raised its long-term rating on North Adams, Mass.' general obligation (GO) bonds to 'A' from 'A-'. The outlook is stable. "The upgrade reflects improving reserves, stronger budgetary performance, and increasing property valuations," said S&P Global Ratings credit analyst Victor Medeiros," as improved financial operations have, in turn, raised budgetary reserves to much stronger levels." Additionally, the city's property tax base valuations improved in 2017 to their highest levels in over a decade, which will provide the city the budgetary flexibility to sustain positive budgetary performance. The city's full-faith-and-credit pledge, subject to the limitations of Proposition 2-1/2, secures the bonds. The city's full-faith-and-credit pledge secures the bonds. North Adams, with an estimated population of 13,298, is in Berkshire County in the Berkshire Mountains, approximately 65 miles northwest of Springfield and 50 miles east of...

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