City Of Concord Nets 3.715% Interest Rate On Capital Improvement Project Bonds

CONCORD, NH — Due to a high credit rating, the city of Concord recently landed a 3.715 percent interest rate on bonding for capital improvement projects.

A $50.8 million 30-year general obligation bond was issued on Wednesday after the city received 10 competitive bids from financial companies. StoneX Financial Inc. purchased the bonds from the city. The money will be used for “various capital improvement projects” approved by the Concord City Council, including a new police station.

The city said Friday that prior to the sale, Standard & Poor’s Global Ratings affirmed the city’s bond rating of AA+. The rating agency cited the city’s “stable and growing local economy, robust long-term planning practices, healthy reserve position, and revenue-raising flexibility as positive credit factors.”

About a decade ago, when the city bonded about $27.5 million in two different sales, Standard & Poor’s also gave the city the AA+ bond rating.

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