Standard and Poor has upgraded the Town of Matthews’ Bond Rating from AA to AA+ which is one step below the highest rating available. The highest rating is AAA.
“The rating is reaffirmation that the Town’s financial health is stable and the general creditworthiness of the Town is great,” said Matthews Town Manager Hazen Blodgett. “We are extremely excited to receive this news.”
The Standard and Poor rating is based on their examination of the Town’s financial records, budget, low debt percentage, proposed future projects, healthy fund balance level and credit stability. Standard and Poor also looks at an organization’s ability to withstand extreme or severe stress such as the current economic situation.
“The Bond Rating of AA+ we have received is the result of careful planning and management of our budget. In the future, when we need to borrow money or obtain credit to complete projects such as roadways or parks or to buy
equipment, banks will look at us favorable. This will result in better interest rates and loan terms – which results in savings to our budget,” Matthews Finance Director Christine Surratt commented.