MIDDLEBOROUGH – Town Manager Robert Nunes is pleased to announce that the Town of Middleborough has maintained an AA stable bond rating from Standard and Poor’s Global Ratings.
“Over the course of the past several years, the Town of Middleborough has established and maintained a steady, positive financial and economic landscape,” Town Manager Nunes said. “This is credited to our Town’s strong financial policies, practices and management in addition to our strong budgetary performance and flexibility.”
The AA rating is the third highest bond rating available from the credit rating agency, and reflects the high-quality financial condition/low credit risk of the Town. The AA and AA+ bond ratings are both considered “investment grade” and differ from the top AAA rating only slightly.
The AA rating will apply to general borrowing, as well as approximately $45.9 million in new bonds approved by the town, which will finance the costs of a new high school, a public works facility and the construction of an elevated water storage tank.
To view the Standard and Poor’s Global Ratings report for the Town of Middleborough, click here.
In issuing the rating, S&P cited the Town of Middleborough’s:
- Strong economy
- Strong management
- Strong budgetary performance
- Strong budgetary flexibility
- Very strong liquidity
- Strong institutional framework score