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Standard & Poor’s affirms town bond rating

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Standard & Poor’s last month announced that it had affirmed Chelmsford’s AA bond rating, which determines the interest rate at which the town is allowed to borrow money. Standard and Poor’s said the rating reflects the town’s “participation in the Boston metropolitan area economy, coupled with above-average wealth and income indicators and low unemployment relative to Commonwealth and national averages.” The firm also cited Chelmsford’s “recent record of favorable financial performance and maintenance of strong reserves; strong financial management practices; and low debt burden with rapid principal amortization.” Standard & Poor’s noted that the town’s outlook is stable and that the firm does not expect to raise or lower the rating in the next two years. For more information, visit the town website at www.townofchelmsford.us.

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