Holliston Receives “AAA” Bond Rating with “Stable” Outlook
Holliston, MA. April 22, 2022: In June of 2021, the Town of Holliston received an upgraded bond rating from Standard & Poor’s Global Ratings (“S&P”) to AAA, the highest available long-term rating on its outstanding general obligation (GO) bonds (upgraded from AA+). As of April 2022, the Town’s AAA bond rating has been reaffirmed, with a “Stable” outlook.
In the Rating Report, S&P noted that the “long-term rating reflects our view of Holliston’s:
- Growing strong residential economy;
- Very strong management and strong institutional framework;
- Strong budgetary performance and flexibility bolstered by consistent strong fund balance levels; and
- Manageable debt profile and proactive management of its pension and OPEB liabilities.”
S&P balances this positive view of the Town’s financial health with a “downside scenario” to consider: “If the town’s reserves were to fall below levels comparable with those of ‘AAA’ rated state peers, or if operational performance destabilizes and leads to a draw on reserves, or if pension and OPEB costs rise significantly and pressure the town’s budget, we could lower the rating.”
“This AAA rating with a ‘Stable’ outlook is the highest bond rating a municipality can receive and is a well-deserved recognition for the Town’s exceptional financial team, specifically: Mary Bousquet, Treasurer/Collector, Sharon Emerick, Town Accountant, and the soon to be retired Kathryn Peirce, Principal Assessor, as well as her successor, Kevin Rudden,” said Travis Ahern, Town Administrator. “In parallel with outstanding financial staff members, this rating reflects the hard work and consistent discipline displayed by past and present Select Board, Finance Committee and Town Meeting members in establishing and adhering to financial policies and practices that ensure the financial stability of the Town,” added Ahern.