S&P Global Ratings has confirmed that the Town of Shrewsbury holds a AAA bond rating and maintains a Stable outlook for its outstanding and future bond issues. This rating applies to the Town’s general obligation (GO) bonds and its long-term debt.
Shrewsbury first received this AAA rating in 2019. The Town currently has six bond issues listed on S&P’s website, totaling $122.03 million. This includes various loans for municipal projects and a $4.875 million bond used to fund a new police station, which is backed by an unlimited tax pledge and will mature in 2042.
According to the S&P report, 88% of the Town’s tax base is residential. In a statement, Town Manager Kevin Mizikar commented, “Our dedicated efforts to maintain robust reserves and a vibrant economy are critical to our ongoing success.”
In a statement, S&P notes that its credit rating does not assess the likelihood of the Town defaulting, nor does it evaluate the investment value or suitability of the bonds. Additionally, S&P assumes that the information provided by the town’s management is reasonably accurate, not intentionally false, and does not omit material information relevant to the credit rating.
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