Marianne LaBarge City Councilor | Ward 6 | Northampton, MA

WARD 6

         CITY COUNCILOR

MARIANNE LABARGE
Text Box: For Immediate Release - October 4, 2023   City of Northampton Maintains Highest ‘AAA’ Bond Rating from S&P Global Ratings NORTHAMPTON - The City of Northampton received competitive bids from bond underwriters on Tuesday, October 3, 2023, for a $1,995,000 10-year general obligation bond issue. Fidelity Capital Markets purchased the Bonds at an average interest rate of 3.496%. The city received a total of six bids on the Bonds. Bond proceeds will be used to finance various capital projects. S&P Global Ratings, a leading municipal bond credit rating agency, affirmed the city’s ‘AAA’ bond rating, the highest rating attainable, with a stable outlook. The rating agency cited the city’s growing tax base, very strong financial management environment, strong financial reserves, and consistent financial results as positive credit factors. "I am pleased to report that, thanks to our first-class financial team and our continued commitment to the Fiscal Stability Plan, Northampton has retained its highest possible bond rating,” shared Mayor Sciarra, “This is more than a point of pride; it directly benefits our residents through better financial terms which allow us to do more. It's the best external validation that we're on the right track." Bids for the Bonds were accepted at the offices of the City’s Financial Advisor, Hilltop Securities Inc. at 54 Canal Street in Boston. For more information, please contact the Mayor’s Office at mayor@northamptonma.gov or 413-587-1249.   -- Office of Mayor Gina-Louise Sciarra City of Northampton 210 Main Street, Room 12 Northampton MA 01060 413-587-1249 phone 413-587-1275 fax www.northamptonma.gov