GE’s deal with Boston gets a thumbs-up from Moody’s
The bond-rating agency Moody’s Investors Services gives high marks to Boston’s deal with General Electric that will relocate the company’s headquarters here.
According to a Boston Globe report, Moody’s called the move “credit positive’’ for Boston.
The Moody’s report said the city is well positioned to absorb the tax incentives offered to attract GE from Fairfield, Conn.: up to $25 million in property tax relief, spread over as many as 20 years. The reason? Boston’s $128 billion tax base had $47.5 million in new growth and a 15.6 percent increase in total assessed value for the 2016 fiscal year.
The property tax break that GE would receive from Boston would be one of the biggest in the city’s history, according to the Globe.
Read the full Boston Globe story here.
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