Bedford gets stellar Moody's Investor rating
BEDFORD — The town of Bedford received the highest bond rating from Moody’s Investors Service for next week’s sale of $4.1 million in general obligation bonds for infrastructure improvements, the town announced.
The credit rating agency also reaffirmed the Aaa rating on the town’s current $16 million in outstanding debt.
Moody’s cited the town’s strong financial operations, conservative budgeting practices, healthy reserves and lengthy history of long-term operating stability and low debt burden, Town Manager Stephen Daly’s office said in a statement.
Higher bond ratings often lead to lower borrowing costs.