Summary: Westfield, Massachusetts; General Obligation

S&P Global Ratings assigned its 'AA' long-term rating, with a stable outlook, to the City of Westfield, Mass.' series A and B 2020 general obligation (GO) refunding bonds, totaling $32.24 million. The city's full faith and credit pledge, subject to the limitations of Proposition 2 1/2, secures the GO debt outstanding. Despite commonwealth levy limit laws, we did not make a rating distinction between Westfield's limited-tax debt and the city's general creditworthiness because our analysis of Westfield's financial and economic conditions already includes the statutory limitation imposed on its revenue-raising ability. Officials intend to use proceeds to refund Westfield's 2011 and 2014 bonds. We base our rating on Westfield's stable economic base with access to the broad and diverse Springfield

...S&P Global Ratings assigned its '##' long-term rating, with a stable outlook, to the City of Westfield, Mass.' series A and B 2020 general obligation (GO) refunding bonds, totaling $32.24 million. The city's full faith and credit pledge, subject to the limitations of Proposition 2 1/2, secures the GO debt outstanding. Despite commonwealth levy limit laws, we did not make a rating distinction between Westfield's limited-tax debt and the city's general creditworthiness because our analysis of Westfield's financial and economic conditions already includes the statutory limitation imposed on its revenue-raising ability. Officials intend to use proceeds to refund Westfield's 2011 and 2014 bonds....

Summary