Worcester Bond Rating Holds Steady
Worcester's bond rating has remained stable through the recession, but is still in the bottom half of Massachusetts communities, according to a report by the Worcester Regional Research Bureau.
The Research Bureau noted that the city's ratings have recently been affirmed, with an A1 rating from Moody's, an AA- from Fitch's and an A- from Standard & Poor's. More than 70 percent of Massachusetts communities received higher ratings from Moody's.
The report said neither Worcester nor most other communities have had their ratings hurt by the recession. In fact, borrowing has been easier and cheaper during much of the recession due to strong demand for municipal bonds. That has helped Worcester with short-term debts in particular.
However, the Research Bureau said the municipal bond market has been hurt over the past few months by investor concern about the fiscal condition of state and local governments.
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