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Article: Bay State's bond rating gets a boost
- Article from:
- The Boston Globe (Boston, MA)
- Article date:
- May 7, 1992
- Author:
CopyrightCopyright 1992 The Boston Globe. Provided by ProQuest LLC. (Hide copyright information)
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Massachusetts officials' hopes for an improvement in the state's
worst-in-the-nation bond rating got a boost yesterday when two of
three Wall Street agencies improved the state's rating for a note
sale planned later this month.
Moody's Investors Service and Fitch Investor Services increased
from 2 to 1, on a three-level scale, the state's rating for a $140
million issue of bond anticipation notes. Standard & Poor's, the
other major bond ratings agency, took no action.
Ratings for bond anticipation notes are different from those for
long-term general obligation debt. Both Moody's and S&P have
maintained the lowest possible rating -- just above "junk bond"
status -- for Massachusetts bonds. ...