CHATHAM – The Town of Chatham’s AAA Bond Rating has been reaffirmed by Standard & Poor Global following a ratings review call with Town Manager Jill Goldsmith, Finance Director Alix Heilala, the town’s financial advisors, and S&P Analysts.
The bond proceeds will finance the town’s wastewater, water, and waterfront projects in the future.
The S&P ratings report said that Chatham has a stable economy, strong budgetary performance with growing reserves, strong management, and manageable direct debt.
“Our budgetary performance, inclusive budgeting and financial management review practices, COVID Financial Recovery Plan, cyber security and coastal resiliency planning efforts contributed to maintaining our S&P bond AAA rating and with a stable outlook,” said Goldsmith.
The report does acknowledge Chatham’s elevated environmental risk due to its location along the Atlantic Ocean but determined it to be in line with other coastal communities.
GO bonds are scheduled for issuance on June 22.
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