Standard & Poor's Ratings Services said it has raised its long-term rating on Hamilton-Wenham Regional School District, Mass.' general obligation bonds to AA-plus from AA.
The outlook is stable.
"We based the upgrade on the very strong credit characteristics and financial profiles of the two member towns: Hamilton and Wenham," said Standard & Poor's credit analyst Timothy Daley.
At the same time, Standard & Poor's has assigned its AA-plus long-term rating and stable outlook to the district's series 2013 GO bonds.
In addition, Standard & Poor's has assigned its SP-1-plus short-term rating to the district's series 2013 GO bond anticipation notes.
The short-term note rating reflects Hamilton-Wenham's high investment-grade rating and low market risk profile. Securing the BANs will be the district's GO pledge.
