Town of Canton Maintains Prestigious AAA Bond Rating from S&P Global Ratings

CANTON — Town Administrator Charles Doody and Finance Director Randy Scollins are proud to share that the Town of Canton has once again earned a AAA bond rating from S&P Global Ratings — the highest possible rating a municipality can receive.

The rating was assigned in connection with the Town’s upcoming $5.55 million general obligation bond issuance and $35 million bond anticipation note. The designation reaffirms Canton’s longstanding position as a fiscally strong community.

According to S&P Global’s report, Canton’s AAA rating reflects its “stable credit profile, demonstrated by tax base expansion and proactive management that supports positive financial results and healthy reserve levels.”

The agency also noted the Town’s robust financial planning practices, growing property tax base, 10 consecutive years of general fund surpluses, and strong reserves, which have been maintained at more than 20% of annual revenues.

“This rating is a reflection of the Town’s commitment to long-term financial stability, careful capital planning, and responsible fiscal management,” said Town Administrator Doody. “It allows Canton to borrow at the most favorable interest rates, which directly benefits taxpayers.”

S&P also cited Canton’s low debt service costs, disciplined budgeting practices, and strong voter support for key capital projects, including the new Galvin Middle School, as additional strengths.

The middle school project, which received 74% voter approval, is being financed in part through a combination of reimbursements from the Massachusetts School Building Authority and the Town’s capital stabilization fund.

“This rating reaffirms that Canton is on solid financial ground,” said Finance Director Scollins. “Our planning for the future, including our conservative use of reserves, clear capital priorities, and transparent financial policies, puts us in a strong position as we move forward with major infrastructure improvements.”

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