Town of Wakefield Maintains Highest Bond Ratings from S&P Global Ratings
In its recent review, S&P Global Ratings (S&P) reaffirmed the Town of Wakefield’s credit profile with the highest short-term and long-term rating assignment: SP-1+ (short-term) and AAA (long-term). S&P cited the Town’s operational strength, its conservative and sophisticated management team, well-embedded financial management policies and practices, strong reserves, and growing tax base among the factors considered in its analysis.
This designation translates to significant savings when the Town looks to finance capital projects, like the new Wakefield Memorial High School. With the highest attainable credit rating, the Town benefits from lower interest rates on borrowed funds. Town Administrator Steve Maio estimates that taxpayers have saved hundreds of thousands of dollars in interest payments over our last few projects because of this rating. He credits the Town Council and Finance Committee for their guidance and leadership, municipal employees for their professionalism and budgetary responsibilities, and the residents of Wakefield for their continued support.
View the full S&P Global Ratings report.