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Hillsborough Township Bond Rating Raised To AA+

Standard & Poor’s Ratings Services raised Hillsborough Township to a AA+ bond rating, which is a reflection of the Township’s continued financial stability.   This represents a two notch increase from the prior AA- rating. 

The Township’s $6 million in outstanding bonds includes the refunding bonds from 2012 which saved the Township nearly $700,000 in interest payments. 

“This rating is indicative of this Township Committee’s continued fiscal responsibility and debt reduction”, stated Mayor Doug Tomson during the announcement at Tuesday’s Township Committee meeting.

“This improvement in rating is a testament to the financial stewardship and management practices that have been implemented and also reflects the benefit of the Township’s ongoing commitment to the Pay as You Go Policy for routine capital purchases.  We are very proud to achieve this rating, which is only exceeded by a AAA rating by S&P,” stated Committeeman and Finance Liaison Frank DelCore.

“The stable outlook reflects our view of the township’s consistent financial performance and economy, which is supported by standard management practices.  The rating is further supported by the township’s very strong liquidity, strong budget flexibility, and adequate budgetary performance,” according to a statement from Standard & Poor’s. 

A credit rating is the opinion of the firm, in this case S&P, on the overall creditworthiness of the borrower.  A rating of AA+ from S&P is representative of a high quality, very low credit risk organization.

 




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sammy April 11, 2014 at 09:20 AM
Congratulations once again for showing the citizens of this town how it is supposed to be done. Great work TC and and Anthony
PatchFan April 11, 2014 at 10:21 AM
And speaking about Anthony, didn't the Democrats condemn his selection as Administrator a couple of elections ago? Shouldn't be surprised that they were wrong again. Just like the 1000 trucks that would be leaving the VA Depot on a daily basis.
sammy April 11, 2014 at 11:21 AM
Politics of destruction is what they do when nothing else can be used. That is why they always lose. No answers, just accusations! If they cared about the town vs caring only about whether they are Democrats first, than they would give it up and save the town the angst of a "field of signs" . Further proof that professional and caring people are in charge, and yet four of them are running. What is Sklars goal? Free advertising for his business? The other two are committed to their dogma and want to impose their will of right and wrong, not what is best for the community. I can see it now... they take over and every home will be forced to have raingardens, solar panels, and no AC.

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