Township's Bond Rating Remains Stable "A+" Mayor Says

Standard & Poors recently gave Berkeley Township an +A bond rating, Mayor Carmen F. Amato Jr. said.

"Once again we are extremely pleased that S&P has recognized the extreme effort we have made to be financially responsive to our taxpayers despite these difficult economic times," the mayor said. "The A+ rating affirms a stable financial outlook and was based upon the township's significantly improved budgetary flexibility and liquidity."

By contrast, in 2009, the township's bond rating was an "A." It fell to an "A-" in 2010. It moved up to the "A+" rating last year.

Standard and Poors looks at a municipality's financial policies and practices, adequate budgetary performance and flexibility, very strong liquidity, low overall net debt, debt to borrow ration and a strong institutional framework, he said.

"We will continue our conservative budget practices in our ongoing effort to improve our finances and find more ways to save taxpayers money," Amato said.