Edgartown issued highest possible credit rating 

Edgartown received the highest possible credit rating. — MV Times

Following a credit analysis and review, Edgartown has been assigned the highest possible rating — AAA — by financial company Standard & Poor’s (S&P), according to a release issued Tuesday by town administrator James Hagerty.

The designation by independent credit rating agency S&P “is a confirmation of our proactive fiscal management policies,” the release stated, “and is a testament to the disciplined budgetary practices of our finance advisory committee and select board.”

In 2016, Edgartown was assigned a ‘Aa2’ — the third highest rating — by Moody’s Investors Services. 

The AAA rating designates the town of Edgartown as having ideal creditworthiness and the strongest capacity to repay investors.

Per the release, Edgartown recognizes “several deliberate decisions” that have paved the way to the high rating, including exercising a sustainable operating budget, “aggressive planning,” and resiliency efforts to mitigate impacts of climate change, the “conservative appropriation of new revenue sources,” and overall compliance with the town’s operating policies. The release states, “Ultimately, it could not have been accomplished without the hard work of the town’s financial management team and support of the voters at town meeting.”


Comments are closed.