Great Barrington Receives A Prestigious Accolade
As we continue to face times of uncertainty during the COVID-19 pandemic, one thing can be counted on: Financial stability in Great Barrington. Earlier this month, the town successfully maintained its AAA (Triple A) bond rating from S & P (formerly Standard and Poors), it's highest rating issued by the credit agency as indications state the town's capacity to meet it's financial commitments is "extremely strong".
S & P highlighted the town's stable economy, management's conservative budgeting practices plus a number of formalized financial policies and practices as some of the variables that led to their decision of giving the south county community a favorable outlook and analysis.
Great Barrington's Finance Director was pleased to receive the triple A rating which is a sign of effective local management and sensible decision making. She also added:
"Earning and maintaining a Triple A bond rating requires prudent management and a commitment to a municipality's financial health. When we were notified of this year's rating, the analyst stated that it's no small feat to maintain perfection. We are proud to have earned this rating and look forward to keeping it at this level".
The Town received similar recognition from S & P back in 2016 after an upgrade of AA+ as some of the benefits from receiving this high accolade effectively lowers the cost of borrowing which also saves money for area taxpayers. S & P takes into consideration the municipality's financial health and local economy as criteria to determine a positive bond rating.
If you would like to receive more information. contact the town of Great Barrington's Finance director at (413) 528-1619, extension 6.
(The following information was obtained by WSBS via a press release courtesy of The Town of Great Barrington for on-air and on-line usage)