ACTON — Town Manager John S. Mangiaratti is pleased to report that Standard & Poor’s Financial Services LLC (S&P) Global Ratings has reaffirmed the Town of Acton’s strong AAA bond rating.
In a summary on Acton’s general obligation bond performance, S&P states that Acton’s “very strong economy, very low fixed costs, and forward-looking financial planning policies and practices provide continued stability at the ‘AAA’ rating.”
The AAA rating is the highest bond rating available and reflects the excellent and stable financial condition of the Town. The rating indicates a bond issuer’s financial strength to pay the principal and interest in a timely fashion. S&P Global Ratings issues this rating only when they feel a creditor’s capacity to meet its financial commitment on its obligations is extremely strong.
Both Standard & Poors and Moody’s Investors Service have rated the Town as AAA making it one of just 14 communities in Massachusetts to earn such designation from both bond rating institutions.
“We’ve worked hard to maintain our finances and this bears out in our AAA bond rating,” Town Manager Mangiaratti said. “I am very proud of our Finance Department and their efforts to ensure that our residents and taxpayers continue to reap the benefits and savings that go along with such a strong bond rating.”