|Great Barrington Gets AAA Bond Rating |
|08:00AM / Friday, November 10, 2023|
GREAT BARRINGTON, Mass. — The Town of Great Barrington has received a AAA bond rating, which affords the town the most favorable terms for borrowing.
"This designation reflects the work of the town Finance Committee and Selectboard, and is ultimately a benefit to our town taxpayers," said Town Manager Mark Pruhenski.
Pruhenski also credited Town Accountant Allie Crespo and Treasurer/Collector Alicia Dulin for their work in managing town finances. As a result of this favorable bond rating, Dulin earned a 3.805 percent interest rate for a 20-year bond issue that will finance various capital projects in town. UBS Financial Services Inc. was the winning bidder.
Bond proceeds will be used to finance various capital projects in town. S&P based its rating on:
The town's strong economy and property values
Strong financial policies and and capital plan management
Budgetary flexibility and strong liquidity
Strong management of the town's pension plan