The Town of Franklin is proud to announce that S&P Global Ratings, the leading provider of independent credit ratings, has assigned its prestigious ‘AAA’ long-term rating to the Town.
This marks the third consecutive year the Town of Franklin has received a ‘AAA’ rating — the highest possible from S&P Global Ratings — recognizing the Town’s consistent strong financial practices, sound fiscal stewardship, and commitment to long-term financial stability.
"This ‘AAA’ rating reflects the Town’s strong commitment to responsible fiscal management and long-term planning,” stated Town Administrator Jamie Hellen. “This is a true team victory and the result of hard work and collaboration across our finance team, elected leadership, department heads, and the entire municipal and town staff”.
 |
| Town of Franklin Receives ‘AAA’ Bond Rating from S&P Global Ratings |
The S&P report highlights the Town’s stable financial profile supported by strong financial management policies and indicates the ‘AAA’ rating reflects Franklin’s “affluent and diverse tax base and strong financial management, both of which have helped fuel a track record of strong financial performance and the maintenance of steady reserves.” In the report, the Town is also recognized for continued cautious budgeting practices and making expenditure adjustments as necessary to maintain positive operations despite revenue-raising limitations and ongoing cost pressures.
Kerri Bertone, Chief Financial Officer, adds that “This rating highlights our shared commitment to financial stability, accountability, and transparency. It’s a reflection of the diligence of our finance team, the guidance of our elected officials, and the support of our entire community."
The ‘AAA’ rating will enable the Town to borrow at the most favorable interest rates, directly benefiting Franklin taxpayers by reducing the cost of capital for infrastructure and community investments.
S&P Bond Rating letter dated May 6, 2025
No comments:
Post a Comment