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The original item was published from 10/19/2023 8:25:59 AM to 10/22/2023 11:26:47 AM.

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Finance

Posted on: October 19, 2023

[ARCHIVED] Town of Bedford – Triple AAA Rating by S&P Global Ratings


The Town of Bedford is pleased to share that S&P Global Ratings assigned its 'AAA' rating to the Town of Bedford’s $6.777 million public improvement serial bonds series 2023A and affirmed its 'AAA' long-term rating on the town's general obligation (GO) debt outstanding.

Highlights of the criteria are noted below.  The full report may be accessed here.

  • The Town’s robust local economy
  • Strong management with good financial policies and practices under the S& P FMA methodology
  • Strong budgetary performance 
  • Very strong budgetary flexibility
  • Very strong liquidity 
  • Adequate debt & Long-term liability
  • Commitment to ESG 

“The ability to serve our residents at the highest levels is directly correlated to the fiscal strength of our operations and financial planning process.  I appreciate the excellent fiscal counsel we receive from Comptroller, Abraham Zambrano, and the diligence of our department heads and Town Board members to maintain this important rating, which reflects the rigor with which we manage daily operations and our approach to strategic planning” Said Supervisor Calves.   “This rating reflects our best practice approaches in fiscal stewardship, transparency and planning.  It is also the reflection of the work of the dedicated and talented finance department team and of the tone set from the Supervisor and Town Board” said Abraham Zambrano, Comptroller.

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