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“With a strong AA+ bond rating, the Township has refinanced much of its existing debt over the past few years, when rates were historically low, saving several million dollars,” said Monroe Mayor Stephen Dalina. “As a result, debt service is down again in 2023.”
According to the S&P Global RatingsDirect report issued for 2023, “The rating reflects our view of the Township’s healthy financial performance and liquidity, supported by economic expansion.”
This exemplary rating is the second highest bond rating assigned by the company and only awarded to 10% of municipalities nationwide.
Such a strong rating underscores the creditworthiness of Monroe as an issuer of bonds, signifying the municipality has strong financial backing, excellent credit reserves and limited debt.
“Our exemplary bond rating reflects our strong administrative management, consistent financial operations and low debt,” explained Mayor Dalina. “We’ve continually tightened our belt and focused on operational efficiencies while maintaining outstanding services to our residents.”
“I am proud of our AA+ bond rating that directly results in taxpayer savings,” Dalina said. “Monroe has once again proven our strong financial position for years to come.”
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