Summary: Methuen, Massachusetts; Non-School State Programs - S&P Global Ratings’ Credit Research

Summary: Methuen, Massachusetts; Non-School State Programs

Summary: Methuen, Massachusetts; Non-School State Programs - S&P Global Ratings’ Credit Research
Summary: Methuen, Massachusetts; Non-School State Programs
Published Jul 14, 2014
2283 words — Published Jul 14, 2014
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Abstract:

Standard&Poor's Ratings Services assigned its 'AA' long-term rating and 'AA-' issuer credit rating (ICR) to Methuen, Mass.' series 2014 general obligation (GO) state qualified school project bonds. We also assigned our 'SP-1+' short-term rating to the city's bond anticipation notes (BANs). The outlook on all the ratings is stable. A pledge of the city's full faith and credit secures the bonds. Officials will use the bond proceeds for its high school revitalization project. The city authorized $99.1 million for the project. Of that amount, 68.84% is eligible for reimbursement from the Massachusetts School Building Authority (MSBA). Proceeds from this sale will redeem $10 million of outstanding BANs and extend maturity of $20 million in BANs for another year.

  
Brief Excerpt:

RESEARCH Summary: Methuen, Massachusetts; Non-School State Programs Publication date: 14-Jul-2014 Primary Credit Analyst: Timothy W Little, New York (1) 212-438-7999; timothy.little@standardandpoors.com Secondary Contact: Ruth S Ducret,...

  
Report Type:

Summary

Issuer
Methuen
Sector
Public Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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MLA:
S&P Global Ratings’ Credit Research. "Summary: Methuen, Massachusetts; Non-School State Programs" Jul 14, 2014. Alacra Store. May 23, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Methuen-Massachusetts-Non-School-State-Programs-1346478>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Methuen, Massachusetts; Non-School State Programs Jul 14, 2014. New York, NY: Alacra Store. Retrieved May 23, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Methuen-Massachusetts-Non-School-State-Programs-1346478>
  
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