S&P raises Boston's bond rating to triple-A

March 5 Wed Mar 5, 2014 2:47pm EST

March 5 (Reuters) - Standard & Poor's Ratings Services raised its rating on Boston, Massachusetts, to triple-A on Wednesday, affecting the city's rougly $1.2 billion of outstanding GO debt

The action came because of S&P's application of its new ratings criteria. The city is expected to sell about $158 million of GO bonds next week.

The rating, which is the highest possible, and stable outlook reflect Boston's strong underlying economy and management, as well as reasonable debt service, pension and retiree healthcare costs, S&P said.

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