Weston Retains Top Credit Rating

On April 2, 2010, Standard & Poor’s Rating Service affirmed the City of Weston’s ‘AAA’ issuer credit rating, and stable outlook, originally issued in 2006.  This is the rating agencies’ highest quality issuer credit rating.  In 2006, Weston was also issued the highest rating offered by Moody’s Investors Service, a Aaa rating.

City leaders are extremely pleased with this news, which will benefit Weston taxpayers, because the city will receive the best interest rates offered on borrowings for capital projects or improvements.  Much like consumer credit ratings, the higher the credit score, the more accessible the credit, with the most favorable interest rate.

The Standard & Poor’s rating scale is as follows, from excellent to poor: AAA, AA+, AA, AA-, A+, A, A-, BBB+, BBB, BBB-, BB+, BB, BB-, B+, B, B-, CCC+, CCC, CCC-, CC, C, D

The rating is based upon the analysis of four primary factors relating to municipal finance:  economy, debt, finance, and administrative/management strategies. The S&P Summary noted that Weston has very strong available reserves, low debt burden and limited capital improvement needs.  In their outlook statement it was noted “What we view as management’s strong planning and sound financial monitoring give us comfort that it will be able to identify and address issues in a timely manner.”

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