It is tough to get too excited about bond ratings, but a city’s bond rating directly affects the city’s ability borrow money for large-scale projects and the terms of those debt agreements. My team worked to rebuild our stabilization fund which was a key factor in Attleboro’s bond rating being upgraded two times under my administration. In fact, our fiscal management has been recognized and applauded by the agency that rates bonds. Having a strong bond rating is like having a good consumer credit record — it allows the city more options for borrowing money for projects, often at lower interest rates. There have also been occasions where our bond rating has prompted lenders to pay us money up front in order to service our loan, further reducing the cost of city initiatives.

I invite you to read what Standard and Poors had to say about our financial management in the bond rating report from April, 2017

S&P Global Ratings: Ratings Direct Summary (PDF)

 

Attleboro’s bond rating to rise
Resulting drop in cost of borrowing to save money
BY GEORGE W. RHODES SUN CHRONICLE STAFF Oct 23, 2013