Politics & Government

Moody's Assigns Aaa Rating to Wayland Loans

The highest possible rating means Wayland should enjoy the lowest possible interest rates on its outstanding loans.

WAYLAND, MA - Moody’s Investors Service announced Monday that it concurrently affirmed and assigned the highest possible bond rating to two separate Wayland loans.

Moody’s Investors Service assigned a Aaa rating to Wayland’s $3.1 million General Obligation Municipal Purpose Loan of 2016 Bonds and affirmed the Aaa rating of $76.8 million of outstanding general obligation (GO) debt.

The $3.1 million loan is for 18 municipal projects, according to Wayland Finance Committee Chair Nancy Funkhouser.

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“The Aaa rating reflects a stable tax base with strong socio-economic indicators, satisfactory financial position, and manageable debt and pension burdens,” according to a press release from Moody’s. “The rating also incorporates the town’s comprehensive fiscal management that includes aggressive funding of long-term liabilities.”

Wayland Treasurer Zoe Pierce said the excellent rating is important for Wayland taxpayers in that it helps assure that Wayland receives the lowest interest rate possible on its bond sales.

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