Marlborough Gets High Credit Rating, Refinances Bonds

MARLBOROUGH, MA — Marlborough recently earned the highest possible credit rating for municipal debt after the city sought to refinance a chunk of municipal debt.

The rating agency Standard & Poor's gave Marlborough a AAA rating for long-term debt issued in 2006 and 2007. The $31.3 million in outstanding debt was refinanced to a rate of 1.8 percent, which will save the city an estimated $319,278 over the life of the debt.

"This is a team victory earned through decades of smart fiscal policies and decision-making, which will save the residents of Marlborough money for years to come. Marlborough is a tier-one community, and I look forward to working with city leaders to maintain our excellent fiscal standing and grow our community," Mayor Arthur Vigeant said in a news release.