S&P Renews AAA Bond Rating for GB

The Town of Great Barrington has S&P's AAA bond rating again, which affords the town the most favorable terms for borrowing.

“This designation reflects the work of the town Finance Committee and Selectboard, and is ultimately a benefit to our town taxpayers,” said Town Manager Mark Pruhenski.

Pruhenski also credited Town Accountant Allie Crespo and Treasurer/Collector Alicia Dulin for their work in managing town finances.

As a result of this favorable bond rating, the town earned a 3.805% interest rate for a 20-year bond issue that will finance various capital projects in town. UBS Financial Services Inc. was the winning bidder. Bond proceeds will be used to finance various capital projects in town.  S&P based its renewed rating on:

·      The town’s strong economy and property values

·      Strong financial policies and and capital plan management

·      Budgetary flexibility and strong liquidity

·      Strong management of the town’s pension plan