COMMONWEALTH BOND RATINGS AFFIRMED

BOSTON, MA – State Treasurer Tim Cahill announced today that the Commonwealth’s bond ratings have been affirmed ahead of its next General Obligation bond sale. Fitch Ratings, Moody’s Investor Services and Standard & Poor’s all affirmed the Commonwealth’s credit ratings at ‘AA’, ‘Aa2’, and ‘AA’, respectively. All three firms’ rating outlooks remain as ‘stable’.

"This is very good news for the Commonwealth and for our taxpayers," said Treasurer Cahill. "Credit matters in today’s markets. Even though the economic recession continues to present challenges, the Commonwealth is still viewed as a strong credit which is going to translate into lower borrowing costs."

The ratings were assigned ahead of the Commonwealth’s upcoming bond sale. The borrowing is expected to generate approximately $500 million in proceeds, which will be used to finance capital investment in public infrastructure across the Commonwealth. The details of the sale are still being determined, but a sale is expected over the next few weeks.

For more information on the Commonwealth’s bond ratings or about the upcoming bond sale, please visit www.mass.gov/treasury/debt.

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