Summary: Westfield, Massachusetts; General Obligation; Note

S&P Global Ratings assigned its 'AA' long-term rating and stable outlook to Westfield, Mass.' series 2019 general obligation (GO) municipal-purpose loan bonds and affirmed its 'AA' long-term rating, with a stable outlook, on the city's existing GO debt. At the same time, S&P Global Ratings assigned its 'SP-1+' short-term rating to Westfield's series 2019 GO bond anticipation notes (BANs), maturing June 12, 2020, and affirmed its 'SP-1+' short-term rating on the city's existing BANs. The city's full-faith-and-credit pledge, subject to Proposition 2 1/2 limitations, secures the GO debt. Despite commonwealth levy-limit-law limitations, we did not make a rating distinction between Westfield's limited-tax GO pledge and general creditworthiness because our analysis of its financial and economic conditions already includes the tax

...S&P Global Ratings assigned its '##' long-term rating and stable outlook to Westfield, Mass.' series 2019 general obligation (GO) municipal-purpose loan bonds and affirmed its '##' long-term rating, with a stable outlook, on the city's existing GO debt. At the same time, S&P Global Ratings assigned its 'SP-1+' short-term rating to Westfield's series 2019 GO bond anticipation notes (BANs), maturing June 12, 2020, and affirmed its 'SP-1+' short-term rating on the city's existing BANs. The city's full-faith-and-credit pledge, subject to Proposition 2 1/2 limitations, secures the GO debt. Despite commonwealth levy-limit-law limitations, we did not make a rating distinction between Westfield's limited-tax GO pledge and general creditworthiness because our analysis of its financial and economic conditions already includes the tax limitation imposed on its revenue-raising ability. The short-term rating reflects our opinion Westfield will likely maintain its very strong ability to pay principal...

Summary