Chatham Retains AAA Bond Rating

CHATHAM – The Town of Chatham recently announced that it has retained its AAA bond rating following a re-affirmation by S&P Global on March 7, 2022.

The town received a “stable” outlook in a ratings review call with Town Manager Jill Goldsmith, Finance Director Alix Heilala, S&P analysts and the town’s financial advisors discussing the issuance of General Obligations Bonds for $11.675 million.

Proceeds from the bonds will finance the town’s wastewater projects and refund previous bonds issued in 2012.

“Chatham’s GO bonds are eligible to be rated above the sovereign because we think the town can maintain better credit characteristics than the nation in a stress scenario,” according to a statement in the report.

AAA is the highest bond rating for municipalities, reflecting confidence in the town’s economy, institutional framework, financial management, and budgetary performance and flexibility.

The bond award is scheduled for the Select Board meeting on March 15, 2022.

By, Matthew Tomlinson, NewsCenter

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