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Finance director announces AAA issuer rating, credits leadership and staff
Summary
The town's finance director told the Finance and Administrative Committee the issuer default rating was upgraded to AAA by a major agency, citing management and leadership; she credited staff and the town manager and warned that decisions about using cash or issuing debt affect the rating.
The finance director reported that a major rating agency upgraded the town's issuer default rating to AAA, calling it "a huge, huge accomplishment." She told the Finance and Administrative Committee the upgrade reflects strong management and leadership and commended the town manager and employees for the result.
The director framed the announcement as part of a broader review of the town's financial position and warned that future choices about using cash versus issuing debt could affect the rating. "We have AAA now," she said, and added that liquidity and prudent decision-making are among the dependencies of that rating. Committee members congratulated the staff and asked that the administration continue to provide clear explanations of how policy choices affect long-term financial health.
