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S&P Raises MSCBA Bonds Rating to 'AA'
December 06, 2011

New York (Standard & Poor's) Nov. 30, 2011

Standard & Poor's Ratings Services raised its rating on various Massachusetts State College Building Authority's (MSCBA) bonds to 'AA' from 'AA-'. The bonds are covered by the credit enhancement provided by the statutory state aid intercept. The outlook is stable.

"We base the upgrade on the Commonwealth of Massachusetts'' improved credit profile and what we view as statutory changes that have strengthened the intercept structure," said Standard & Poor's credit analyst Robin Prunty.

At the same time, Standard & Poor's assigned its 'AA' long-term rating, and stable outlook, to MSCBA's $159.5 million series 2012A project revenue bonds, and $75 million series 2012B refunding revenue bonds. Standard & Poor's also affirmed its 'A+' rating on the bonds guaranteed by the commonwealth.

Read the full press release.

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