MARLBOROUGH – Marlborough recently celebrated good news from S&P Global Ratings, which reaffirmed the city’s AAA bond rating.
Mayor Arthur Vigeant noted the rating in a recent press release, explaining that S&P had cited the strength of Marlborough’s economy, management with financial practices and policies, budgetary flexibility, liquidity and debt and contingent liability profile as credit factors.
“Maintaining our AAA bond rating is vital to saving our residents tax dollars,” Vigeant said in the statement. “This distinction allows us to borrow at significantly lower rates especially at a time when interest rates are being raised by the federal government.”
Marlborough first secured an AAA rating in 2019, maintaining it ever since. It is one of multiple area communities with this high rating, being joined by Shrewsbury in 2020.
Vigeant added that the city has been able to bond $14 million over 20 years at a rate of 3.261 percent, with help from this rating, enabling the city to finance its ongoing library renovation and some water and sewer projects.