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Moody's Investors Service has recently assigned a MIG 1 rating to the Town of Weston's General Obligation Bond Anticipation Notes and affirmed the Aaa long-term rating on the Town's outstanding general obligation bonds.
The Aaa rating reflects a stable financial position, manageable debt burden and pension liability, and the aggressive funding strategy towards its OPEB liability. The MIG 1 rating reflects the strong long-term credit characteristics, sufficient management of refinancing risk and ample liquidity.
Moody's also confirmed a stable outlook, which reflects its expectation that Weston will maintain a sound financial position bolstered by strong fiscal management. It also incorporates the Town’s commitment to addressing its long-term liabilities while maintaining a conservative approach to budgeting and expenditure management. The history of taxpayer support for capital expenditures also provides stability.
The high rating Weston receives, means a lower interest rate for borrowing, which ultimately helps the taxpayer.
To read the full ratings report from Moody's, please follow the link below. More information on the Town's financial management policies and annual budget reports are also available by following the link below.
It is currently budget season for fiscal year 2019. To follow this process, subscribe to receive agenda and minutes notifications from the Finance Committee, Board of Selectmen, and the School Committee at www.weston.org/list.aspx. The annual budget hearing is scheduled for April 30th.