S&P raises Dedham, Mass. GO bond rating to AAA

Thu May 23, 2013 2:51pm EDT

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May 23 (Reuters) - Standard & Poor's Ratings Services said on Thursday it raised Dedham, Massachusetts' general obligation bond rating to AAA from AA-plus with a stable outlook.

"The upgrade follows a trend of robust operating results improving reserves to very strong levels," said S&P credit analyst Victor Medeiros in a statement.

The upgrade also takes into account management's actions to lower the Boston suburb's other postemployment benefit liability as well as management's willingness to negotiate health insurance reforms and use the savings to fund 100 percent of its annual required contribution, the rating agency said.

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