Skip to main content

Burrillville's AA bond rating reaffirmed

October 4, 2012

BURRILLVILLE — Fitch Ratings re-affirmed the town's AA municipal bond rating, which means the town will be able to secure a lower interest rate when it sells bonds to finance major projects.
Fitch Ratings is one of three private companies that rates the credit risk of companies and municipalities planning to sell debt. It has 10 “investment grade” categories ranging from a best of AAA to BBB-. The ratings allow investors to form an opinion on whether they are likely to be repaid.
Fitch's ratings pertain to the town's approximately $11.79 million in general obligation bonds. The key issues driving the AA rate are “strong financial management practices, which have led to an improved financial position over the past three years for both municipal and school department operations despite tax base declines and decreases in state aid.”

Read more in our print edition.

WARWICK – Bishop Hendricken jumped out to an early lead on Mount St. Charles and didn...
LINCOLN  –  Friday night marked the homecoming of Davies Tech senior tri-captain...
  WOONSOCKET – Mount St. Charles coach Dave Belisle doesn’t want to sound the...
WOONSOCKET – Many years have passed since Pepin Lumber last sold Christmas trees during the holidays. But on Thursday...
WOONSOCKET – The operator of Rick’s Bar & Grill has agreed to close the doors for two days after the city accused...
WOONSOCKET – Saying she doesn’t want to risk dragging the city into potential litigation, Mayor Lisa Baldelli-Hunt has...

 

Premium Drupal Themes by Adaptivethemes