Williamstown, Mass., Upgraded to Aa1 by Moody's

Published March 09, 2015, 12:20 p.m. EDT

1 Min Read

Moody's Investors Service said it has upgraded to Aa1 from Aa2 the town of Williamstown, Mass.'s general obligation rating.

Processing Content

Concurrently, Moody's has assigned a Aa1 rating to the town's $3.3 million general obligation municipal purpose loan of 2015 Bonds. Post sale, the town will have $4.7 million in outstanding GO debt.

The Aa1 rating reflects the town's moderate tax base with above average wealth levels, stable financial position with healthy reserves and manageable debt and pension liabilities. The rating also incorporates the presence of Williams College (Aa1 stable) which represents the largest employer and taxpayer.

For reprint and licensing requests for this article, click here.

MORE FROM BOND BUYER

Secondary bond market

Short-term munis and USTs sell off

Federal Reserve guidance will likely continue to support the long end, MMD's Kevin McGuigan said, but "investors need to be cautious about extending duration right now, given that a lot of the pressure on the long end has been the result of supply concerns."

By Christina Baker
Northeast Reporter

September 18
State budgets

State budgets under stress

With the effects of added Medicaid requirement looming next year, some states are already seeing stress cracks in their reserve fund balances and revenue levels.

By Scott Sowers

September 18
Career moves

TD Securities hires Burton to boost muni sales in Charlotte

Burton brings 35 years of municipal sales experience, most recently at Cantor Fitzgerald.

By Robert Slavin
Southeast Reporter

September 18
Texas

Federal agency OKs Medicaid funding for Texas

Healthcare providers will receive nearly $12 billion in funding in fiscal 2027 with federal approval of the state's Medicaid directed payment programs.

By Karen Pierog
Senior Reporter

September 18
ETFs

Growing ETF preference leads to mutual fund conversions

Since 2021, 223 mutual fund-to-ETF conversions have been completed, including 24 involving munis, according to Morningstar data.

By Jessica Lerner
Senior reporter and buy-side specialist

September 18
Career moves

Rees joins Stephens Public Finance

With more than 25 years in executive leadership in Texas public education, Rees will develop bond underwriting opportunities in the state, a Stephens statement said.

September 18

Load More