Fitch Rates Worcester Bonds AA-, Stable
Despite concerns among cities and towns that the summer debt ceiling fight in Congress would lead to downgrades in bond ratings, it does not appear to be the case for Worcester.
Fitch Ratings assigned a stable outlook and an AA- rating on $33.3 million in general obligation bonds for the city. It's the same rating the city has held throughout the recession.
The ratings agency also affirmed the same rating and outlook on approximately $552 million in outstanding Worcester general obligation bonds.
The two bonds totaling $33.3 million are scheduled to sell competitively on Oct. 25.
Some officials in Central Massachusetts communities were concerned that ratings may suffer after Moody's assigned a negative outlook to a dozen Bay State municipalities, including Acton and Wayland, in the wake of a contentious fight in Congress over the national debt ceiling.
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