Town of Milton
August 10, 2023
S&P Global Affirms Milton’s AAA Bond Rating and assigns its SP-1+ Rating
Milton, Massachusetts: Town Administrator Nicholas Milano & the Milton Select Board announced Tuesday that S&P Global Ratings has affirmed the Town of Milton’s outstanding AAA Bond Rating and assigned its ‘SP-1+’ rating to the Town for its anticipated $20.15M general obligation (GO) bond anticipation notes (BANs) in connection with the construction of the new Milton Fire Department Headquarters.
In issuing the ratings, S&P cited Milton’s fifth consecutive general fund surplus and its strong fund balances. Moreover, they cited:
- “Track record of balanced-to-positive operations”
- “Strong reserves”; and
- “Very strong liquidity”
The AAA Bond Rating is the highest bond rating that a municipality can obtain from S&P. Strong bond ratings help the Town secure favorable interest rates on borrowing and reflect positively on management practices.
The full report is available on the Town of Milton website: https://www.townofmilton.org/169/Financial-Information
Colin F. Loiselle
Assistant Town Administrator
firstname.lastname@example.org | 617-898-4960