Why exactly then is the idea to reduce monies from the Worcester Self-Insurance Trust, that currently has over 3 months in reserves, that would provide a break to the taxpayers a bad idea??? Seriously can anyone give us one reason??
- Boston (City of) MA: New Issue – Moody’s Assigns Aaa to Boston, MA’s GO Ref. Bonds; Outlook is Stable
- Boston has a Aaa rating from Moody’s with only 1.69 months of reserves in their Self-Insurance Health Trust fund??
- City of Worcester Auditor has said that the current proposal would have no effect on our bond rating (Aa3)
- There is no Mass General Law dictating how much we need to keep in reserves
|Moody’s credit ratings|
|Rating||Long-term ratings||Short-term ratings|
|Aaa||Rated as the highest quality and lowest credit risk.||Prime-1
Best ability to repay short-term debt
|Aa1||Rated as high quality and very low credit risk.|
|A1||Rated as upper-medium grade and low credit risk.|
Best ability or high ability to repay short term debt
|Baa1||Rated as medium grade, with some speculative elements and moderate credit risk.||Prime-2
High ability to repay short term debt
High ability or acceptable ability to repay short term debt
Acceptable ability to repay short term debt