Hopkinton Receives Standard and Poor’s AAA Bond Rating Status

contribute's picture

The Town is most pleased to announce that on May 9, 2014, Standard and Poor’s assigned a AAA rating to its General Obligation Bonds. This upgrades the Town from an AA+ rating to the highest possible municipal bond rating. The new rating will allow the Town to borrow or bond at lower interest rates.

“This is great milestone for the town. The AAA rating is the culmination of fiscal discipline that was started long ago, as well as management policies aided by the Charter. Our town boards and committees have dedicated countless hours, as have our professional staff. Volunteers, staff, residents and businesses should take pride in this achievement,” said John Mosher, Chair of the Board of Selectmen.

Standard and Poor’s AAA rating is based on the Town’s very strong economy, strong budgetary flexibility, strong budgetary performance, stable revenue profile, very strong liquidity, strong management conditions and very strong debt and contingent liability profile.