PRESS RELEASE

For Immediate Release 

Tyngsborough- Town Manager Colin Loiselle announces that S&P Global Ratings Affirms Tyngsborough’s AA+ Bond Rating

October 1, 2024 – Tyngsborough Town Manager Colin Loiselle announced today that ahead of the upcoming sale of a $50M bond for the Tyngsborough Middle School Project, S&P Global Ratings has affirmed Tyngsborough’s AA+ bond rating and issued its highest issue rating of SP-1+.

In affirming Tyngsborough’s excellent rating, S&P has acknowledged Tyngsborough’s positive financial performance including balanced operations, healthy reserve contributions and balances, and comprehensive financial management policies and practices. 2024 marks Tyngsborough’s eighth year with this strong rating after being increased by two tiers in 2017.

A strong bond rating like this reflects a stable, positive economic outlook and allows the Town to obtain favorable interest rates on debt, like the long-term debt for the Tyngsborough Middle School which will be sold this month.

“Tyngsborough has done incredible work over the last several years to maintain a strong financial position that reflects our priorities, protects the taxpayers, and ensures financial stability in future years. I am proud of our team for keeping up with that work and again receiving this excellent bond rating”. – Town Manager Colin Loiselle 

This bond rating review was conducted ahead of the scheduled sale of a $50M long-term bond for the Tyngsborough Middle School Project which will sell this month. This rating will help ensure the Town gets the best interest rates possible.

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Contact:

Town Manager Colin Loiselle

cloiselle@tyngsboroughma.gov | 978-649-2300 x100