Summary: Hopkinton Town, Massachusetts; General Obligation; Note

S&P Global Ratings assigned its 'AAA' long-term rating and stable outlook to Hopkinton, Mass.' roughly $5.295 million series 2022 general obligation (GO) municipal-purpose loan bonds and affirmed its 'AAA' long-term rating, with a stable outlook, on the town's existing GO debt. S&P Global Ratings also assigned its 'SP-1+' short-term rating to the town's roughly $4.882 million GO bond anticipation notes (BANs). Hopkinton's full-faith-and-credit pledge secures the series 2022 GO bonds and existing GO debt. The bonds are payable from unlimited-ad valorem-tax revenue, not subject to Proposition 2 1/2 limitations. Officials intend to use series 2022 bond proceeds to permanently finance BANs outstanding for various capital projects. We rate Hopkinton's existing debt and BANs secured by its full-faith-and-credit pledge, subject to

...S&P Global Ratings assigned its '###' long-term rating and stable outlook to Hopkinton, Mass.' roughly $5.295 million series 2022 general obligation (GO) municipal-purpose loan bonds and affirmed its '###' long-term rating, with a stable outlook, on the town's existing GO debt. S&P Global Ratings also assigned its 'SP-1+' short-term rating to the town's roughly $4.882 million GO bond anticipation notes (BANs). Hopkinton's full-faith-and-credit pledge secures the series 2022 GO bonds and existing GO debt. The bonds are payable from unlimited-ad valorem-tax revenue, not subject to Proposition 2 1/2 limitations. Officials intend to use series 2022 bond proceeds to permanently finance BANs outstanding for various capital projects. We rate Hopkinton's existing debt and BANs secured by its full-faith-and-credit pledge, subject to Proposition 2 1/2 limitations, on par with our view of the town's unlimited-tax debt outstanding. Despite limitations imposed by the commonwealth's levy-limit law, we...

Summary