Town Receives Coveted AAA Bond Rating

Standard & Poors rating service has issued its highest AAA rating to the town of Portsmouth, which is only the second community in Rhode Island to receive this high bond rating. This is essentially a financial report card for our Town’s current leadership and has a direct impact on all Town residents. Funds borrowed carried a much lower interest rate with a triple-A rating.

Kudos to Town Administrator John Klimm, Town Council President Jim Seveney and the current Town Council, and Finance Director Jim Lathrop for making the hard decisions needed to obtain this prestigious rating. In a time when some communities are facing bankruptcy, this is strong evidence that Portsmouth is on the right financial path and moving forward.