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 | ||
---|---|---|
Investment grade | ||
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. | |
Aa2 | ||
Aa3 | ||
A1 | Rated as upper-medium grade and low credit risk. | |
A2 | Prime-1/Prime-2 Best ability or high ability to repay short term debt |
|
A3 | ||
Baa1 | Rated as medium grade, with some speculative elements and moderate credit risk. | Prime-2 High ability to repay short term debt |
Baa2 | Prime-2/Prime-3 High ability or acceptable ability to repay short term debt |
|
Baa3 | Prime-3 Acceptable ability to repay short term debt |
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