Summary: Pembroke, Massachusetts; General Obligation; Note

S&P Global Ratings assigned its 'SP-1+' rating to the Town of  Pembroke, Mass.'s 2023 general obligation (GO) bond anticipation notes (BANs), totaling about $9.7 million. At the same time, S&P Global Ratings affirmed its 'AA' long-term rating on the town's GO debt outstanding. The outlook, where applicable, is stable. The town's full faith and credit pledge, subject to Proposition 2 1/2 limitations, secures the bonds and GO debt outstanding. We rate the limited-tax GO debt based on the application of our criteria "Issue Credit Ratings Linked To U.S. Public Finance Obligors' Creditworthiness" (published Nov. 20, 2019). We rate the limited-tax GO debt on par with our view of Pembroke's general creditworthiness because the ad valorem tax is not derived from

...Most recent Historical information 2022 2021 2020 Very strong economy Projected per capita EBI % of U.S. 124 134 141 141 Market value per capita ($) 196,740 167,447 161,006 157,571 Population (no.) 19,372 18,880 18,762 County unemployment rate(%) 4.0 6.1 9.5 Market value ($000) 3,811,246 3,243,782 3,039,792 2,956,350 Ten largest taxpayers % of taxable value 5.3 5.6 5.6 5.7 Strong budgetary performance Operating fund result % of expenditures 2.2 3.4 0.8 Total governmental fund result % of expenditures 4.0 4.2 0.9 Strong budgetary flexibility Available reserves % of operating expenditures 12.7 11.0 7.4 Total available reserves ($000) 9,267 8,101 5,414 Very strong liquidity Total government cash % of governmental fund expenditures 23 21 12 Total government cash % of governmental fund debt service 607 565 289 Adequate management Financial Management Assessment Standard Weak debt & long-term liabilities Debt service % of governmental fund expenditures 3.8 3.7 4.1 Net direct debt % of governmental...

Summary