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Local Aid and Finance 23 cities, towns earn top bond ratings
Twenty-three Massachusetts cities and towns currently have the highest possible bond rating from at least one of the three major rating agencies: Standard and Poor’s, Moody’s Investor Services, and Fitch Ratings.
Despite the challenging fiscal climate, four towns – Arlington, Chatham, Duxbury and Natick – recently achieved an AAA ranking from Standard and Poor’s for the first time.
Cambridge and Hingham currently have AAA ratings from all three rating firms; Dover, Wellesley and Weston have achieved the highest bond rating from both Moody’s and Standard and Poor’s. Sixteen communities have an AAA rating from either Moody’s or Standard and Poor’s.
The 16 Massachusetts communities earning AAA ratings from Standard and Poor’s this year represents a notable proportion of the 108 cities and towns receiving that designation nationwide, according to Karl Jacob, a director in the company’s public finance group.
The existence of a state program to help fund local school projects and relatively stable sources of municipal revenue contribute to the strong showing of Massachusetts communities, Jacob said.
Once a city or town reaches AAA status, it is generally able to remain there, according to Jacob. The rating is based not just on the community’s current financial standing, but on its performance over many years, he said.
“The triple-A’s tend to move right through these [economic] slowdowns,” Jacob said.
Cities and towns with AAA bond ratings:
Standard and Poor’s
Arlington
Barnstable
Bedford
Cambridge
Canton
Chatham
Dover
Duxbury
Hingham
Lincoln
Natick
Needham
Sherborn
Sudbury
Wellesley
Weston
Moody’s
Belmont
Brookline
Cambridge
Concord
Dover
Hingham
Lexington
Newton
Wayland
Wellesley
Weston
Winchester
Fitch Ratings
Cambridge
Hingham
Local Aid and Finance 23 cities, towns earn top bond ratings
23 cities, towns earn top bond ratings
Twenty-three Massachusetts cities and towns currently have the highest possible bond rating from at least one of the three major rating agencies: Standard and Poor’s, Moody’s Investor Services, and Fitch Ratings.
Despite the challenging fiscal climate, four towns – Arlington, Chatham, Duxbury and Natick – recently achieved an AAA ranking from Standard and Poor’s for the first time.
Cambridge and Hingham currently have AAA ratings from all three rating firms; Dover, Wellesley and Weston have achieved the highest bond rating from both Moody’s and Standard and Poor’s. Sixteen communities have an AAA rating from either Moody’s or Standard and Poor’s.
The 16 Massachusetts communities earning AAA ratings from Standard and Poor’s this year represents a notable proportion of the 108 cities and towns receiving that designation nationwide, according to Karl Jacob, a director in the company’s public finance group.
The existence of a state program to help fund local school projects and relatively stable sources of municipal revenue contribute to the strong showing of Massachusetts communities, Jacob said.
Once a city or town reaches AAA status, it is generally able to remain there, according to Jacob. The rating is based not just on the community’s current financial standing, but on its performance over many years, he said.
“The triple-A’s tend to move right through these [economic] slowdowns,” Jacob said.
Cities and towns with AAA bond ratings:
Standard and Poor’s
Arlington
Barnstable
Bedford
Cambridge
Canton
Chatham
Dover
Duxbury
Hingham
Lincoln
Natick
Needham
Sherborn
Sudbury
Wellesley
Weston
Moody’s
Belmont
Brookline
Cambridge
Concord
Dover
Hingham
Lexington
Newton
Wayland
Wellesley
Weston
Winchester
Fitch Ratings
Cambridge
Hingham
Written by MMA Associate Editor Mitch Evich
