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Needham issues short-term note; Standard & Poors affirms AAA rating and stable outlook
Summary
Town finance staff reported that Needham received competitive bids and sold a short-term note with a net interest cost cited at about 3.01%; Standard & Poors reaffirmed Needham's AAA debt rating and SP-1+ short-term rating with a stable outlook, the finance director said.
Town finance staff told the Select Board the town successfully received competitive bids for a short-term note and that Standard & Poors has affirmed Needhams AAA long-term bond rating and an SP-1+ short-term rating, with a stable outlook.
The towns finance team described the note as short-term debt maturing in October; the winning bid produced a net interest cost the treasurer characterized as near 3.01% after premium. Staff said the…
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