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Posted on: April 9, 2021

Watertown Elementary School, Middle School, Sidewalk, and Ambulance Projects Assigned AAA Rating

Standard & Poor's (S&P's) Rating Services assigned its AAA long-term rating to next week's General Obligation (GO ) Bond Sale totaling $ 43.8 million related to financing the construction of a new Hosmer & Cunniff Elementary Schools, street and sidewalk improvements, Middle School renovations and the purchase of a new Fire Department ambulance. At the same time, S & P's affirmed its SP-1+ short-term rating on Watertown's existing bond anticipation notes ( BANs ) and AAA long-term rating on the Town's existing GO debt. These ratings are S & P's highest ratings.

As indicated in the attachment, the Rating reflects their opinion of the Town's :

    Very strong economy 
    Strong Management
    Strong budgetary performance
    Very strong budgetary flexibility
    Very strong liquidity
    Strong debt and contingent liability profile
    Strong institutional framework       

Thank you to the Honorable Town Council and Town Department Heads for all of their efforts in this matter as maintaining the AAA Bond Rating will be helpful in our continued efforts to provide the highest level of services to the citizens of Watertown while utilizing the taxpayers’ dollars as efficiently as possible.

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