Recently, Somerville’s bond rating jumped two levels (to AA+)! Why is this so exciting?

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The City’s bond rating is like it’s credit score; the better our bond rating is, the better terms we can get when borrowing money for large projects – ultimately saving residents money.

In their report about the jump, Standard & Poor cited Somerville’s strong financial practices and budget management, low overall debt, strong capacity to meet its financial commitments including aggressive paying off of debt, and a robust, growing economy as reasons to up the bond rating.

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