Concord Awarded Aaa Bond Rating By Moody's Investor Service

CONCORD, MA — Concord was awarded a Aaa bond rating by Moody’s Investor Service. The Aaa rating reflects a healthy financial position supported by strong reserves and fiscal management. The rating also incorporates a sizable and affluent tax base, below average debt burden and well managed pension and OPEB liabilities.

"During this uncertain time, the bond rating shows a strong financial position and the ability to borrow at a lower rate if deemed necessary in our fight in the COVID-19 Pandemic," said Town Manager Stephen Crane.

The outstanding general obligation unlimited tax bonds are considered unlimited tax because the entire amount of debt service has been voted excluded from restrictions under Massachusetts law on the town's ability to increase property taxes to pay debt service, referred to as Proposition 2 1/2.