Nashua Earns AAA Rating from Fitch Group

You can't believe everything you hear from the naysayers during public comment at Aldermanic meetings.

From the outside looking in, the city runs a pretty tight ship.

In fact, for the sixth year in a row, Nashua has received a Triple-A credit rating from Fitch Group Inc.

The report was issued March 28.

Fitch is one of three nationally recognized statistical ratings organizations that crunch the numbers and evaluate entities on key rating drivers.

Here's a snapshot of Nashua's current outlook, which got an overall "stable" rating from Fitch, but you can read through the full report, posted here with this story.

• Strong Financial Management: Nashua’s management team has made appropriate spending cuts to adequately address rising employee costs and maintain strong fund balances in the context of voter-approved spending limitations.

• Diverse and Expanding Economic Base: The city’s economy continues to see growth and development and is a key center within the state for business and government.

• Above-Average Socioeconomic Factors: The local economy is diverse, with good wealth indicators and below-average unemployment rates.

• Manageable Debt Burden: The city’s debt burden including the series 2012 Pennichuck acquisition bonds is moderate to high but taking into account the self-supporting nature of the Pennichuck acquisition bonds and state grants for school debt, debt levels are low. Par amortization is rapid.

237,896,000