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Braintree officials brief council after Moody's downgrades town rating; leaders call it a lagging assessment
Summary
On Oct. 15 Moody's downgraded Braintree's rating from Aa2 to Aa3, the finance director told the council, citing a decline in reported reserves for FY24; officials said there is no immediate impact but flagged the downgrade as retrospective and spelled out steps underway to strengthen finances.
The Town of Braintree received a downgrade from Moody's on Oct. 15, the finance director told the council on Oct. 21. The presenter said Moody's lowered the town's rating from Aa2 to Aa3 after flagging low reported reserves in fiscal year 2024 and certain operating-revenue metrics. The town published a statement and the related Moody's report for transparency.
"The analyst essentially noted that there was a scorecard flag... the town's reserves had dropped so…
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