Massachusetts (Commonwealth of) -- Moody's affirms Aa1 on $243.5 million of Massachusetts GO bonds; outlook stable

Affirmation in conjunction with replacement of direct purchase agreementNew York, August 01, 2014 -- Moody's Investors Service has affirmed the long-term Aa1 rating assigned to the Commonwealth of Massachusetts'$243.5 million outstanding General Obligation Refunding Bonds (Variable Rate Demand Bonds), 2001 Series B. The affirmation is in conjunction with the replacement of RBC Capital Markets, LLC (A2/P-1) with Bank of America, N.A. (A2/P-1) as the direct purchaser upon expiration of the original direct purchase agreement on August 1, 2014. The new agreement expires August 1, 2015 with two one-year evergreen renewals.

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