Mansfield's Credit Rating Improved to AA From A

From the Town of Mansfield:

Representatives of Standard and Poors met with Town Accountant, John Stanbrook, Town Treasurer/Collector, Roxanne Donovan, Assistant Assessor, Nancy Hinote, Selectman Jess Aptowitz and Town Manager, William R. Ross on March 26, 2013, to review the credit rating of the Town of Mansfield. The representatives were given a tour of the community and an extensive briefing on the financial condition of the Town.

The Town received a credit rating and report from Standard and Poors on April 2, 2013. The credit rating of the Town was upgraded from A with a negative outlook to AA with a stable outlook. The report that accompanied the rating stated that the Town has substantially improved its financial status by greater budgetary oversight, conservative financial projections and a stronger cash position.

The report stated that the Town’s financial management practices are “good” under Standard and Poors financial management assessment practices and that serious consideration will be given to a further upgrade if written financial policies (which are being prepared) are adopted and continued financial stability is apparent.