Summary: Fitchburg, Massachusetts; General Obligation; Non-School State Programs; Note

S&P Global Ratings revised its outlook to positive from stable and affirmed its 'A+' underlying rating on Fitchburg, Mass.' outstanding general obligation (GO) debt. At the same time, we assigned our 'A+' underlying rating to the city's 2019 GO state qualified municipal purpose bonds. The outlook is positive. Furthermore, we assigned our 'AA' long-term rating to the 2019 GO bonds. The long-term rating reflects the state program rating. Additionally, we assigned our 'SP-1+' short-term rating to the city's GO bond anticipation notes (BANs) dated June 21, 2019 and payable June 19, 2020. The positive outlook reflects our belief that there is at least a one-in-three chance we will raise the underlying rating during the two-year outlook period. The city's economic

...S&P Global Ratings revised its outlook to positive from stable and affirmed its 'A+' underlying rating on Fitchburg, Mass.' outstanding general obligation (GO) debt. At the same time, we assigned our 'A+' underlying rating to the city's 2019 GO state qualified municipal purpose bonds. The outlook is positive. Furthermore, we assigned our '##' long-term rating to the 2019 GO bonds. The long-term rating reflects the state program rating. Additionally, we assigned our 'SP-1+' short-term rating to the city's GO bond anticipation notes (BANs) dated June 21, 2019 and payable June 19, 2020. The positive outlook reflects our belief that there is at least a one-in-three chance we will raise the underlying rating during the two-year outlook period. The city's economic growth and consistent, conservative budgeting has led to a material increase in reserve levels. Over the next two years, should management continue to produce year-end results similar to what it has over the past few years, along with...

Summary