(WT) 16May14 AAA Bond Rating

Westford Earns AAA Bond Rating From Standard and Poor’s

Earlier this month, Standard and Poor’s Ratings Services announced that Westford’s municipal bond rating has been upgraded from AA+ to AAA, the highest possible bond rating for government bonds.

The town was upgraded to AA+ in 2008 due to many of the same factors that brought this latest upgrade such as flexibility in budgeting and a strong local economy.

Additionally, the Standard and Poor’s report praised the town’s debt profile and financial practices, although the report indicated that may not formalize or monitor all practices on a regular basis.

While the report indicated a significant change in pension and OPEB (Other Post-Employment Benefit) costs could pressure the town’s rating, a change in the rating is unlikely within the next two years.

For the full report, click here.