Summary: Groton Town, Massachusetts; General Obligation; Note

S&P Global Ratings assigned its 'AAA' long-term rating to Groton Town, Mass.' roughly $11.7 million series 2024 general obligation (GO) municipal-purpose-loan bonds. At the same time, S&P Global Ratings affirmed its 'AAA' long-term rating on the town's existing GO debt. S&P Global Ratings also affirmed its 'SP-1+' short-term rating on the town's bond anticipation notes (BANs). The outlook on the long-term rating is stable. Groton's full-faith-and-credit pledge secures the GO debt; depending on the project, the debt could be subject to Proposition 2 1/2 limitations. We have not made a rating distinction between the town's limited-tax GO pledge and general creditworthiness. Despite limitations imposed by the commonwealth levy-limit law on a portion of the bonds, the tax limitation imposed on

...Most recent --Historical information-- 2023 2022 2021 Very strong economy Projected per capita effective buying income (EBI) (%) of U.S. 182.2 Market value per capita ($) 223,104 Population 12,274 11,929 County unemployment rate(%) 3.1 Market value ($000) 2,738,373 2,503,884 2,110,364 10 leading taxpayers as a % of taxable value 2.5 Strong budgetary performance Operating fund result as a % of expenditures 1.4 0.9 2.1 Total governmental fund result as a % of expenditures 5.1 12.0 3.2 Strong budgetary flexibility Available reserves as a % of operating expenditures 14.4 15.0 15.5 Total available reserves ($000) 6,707 6,466 6,265 Very strong liquidity Total government cash % of governmental fund expenditures 26.2 39.2 26.2 Total government cash % of governmental fund debt service 427.8 837.5 511.0 Very strong management Financial Management Assessment Strong Adequate debt and long-term liabilities Debt service as a % of governmental fund expenditures 6.1 4.7 5.1 Net direct debt as a % of governmental...

Summary