Melrose Maintains AA+ Bond Rating

MELROSE, MA — The city has received an AA+ bond rating from the Standard and Poor 500 for the third consecutive year, according to Mayor Jen Grigoraitis.

The AA+ rating is the second highest in the ranking, only behind AAA. The S and P report highlights some of Melrose’s best financial attributes that contributed to its satisfactory rating, including a quality reputation as a borrower of funds, a positive financial outlook, and improved tax levy which Grigoraitis credited to $13.5 million tax override that voters passedin November’s election.
Grigoraitis said a positive bond rating is crucial for the city as it continues to finance the $130 million debt exclusion passed in 2023’s municipal election. The exclusion added approximately $875 per year in taxes to the average Melrose homeowner over 30 years and will fund multi-year fire and police station projects.

Grigoraitis credited CFO Kerri Golden and Treasurer-Collector Kathryn Armata for their budget management skills which contributed to Melrose earning a satisfactory bond rating.
“Melrose’s great bond rating keeps borrowing costs low and gives Melrose the best possible financial position,” Grigoraitis said in a statement.

Melrose’s operating budget for Fiscal Year 2026 is $107.5 million.

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