Standard & Poor’s raised its general obligation bond rating of Lynn, Mass. to A from A-minus. The outlook is stable.
“The upgrade reflects recent strong financial performance and greater operating flexibility,” said credit analyst Victor Medeiros.
The report cited the 87,000-population city’s budgetary adjustments and low debt burden, coupled with limited additional capital needs. Lynn, though, must still deal with “sizable long-term liabilities,” Medeiros wrote.
Lynn is 11 miles north of Boston.