NORFOLK — Town Administrator Justin Casanova-Davis and Finance Director Todd Lindmark are pleased to announce that the Town of Norfolk has retained its AA+ bond rating.
The AA+ rating is the second highest bond rating available and reflects the high-quality financial condition/low credit risk of the Town of Norfolk. Since 2014, the town has received an AA+ rating.
To view the S&P Global Ratings report, click here.
The rating highlighted many aspects of the Town’s financial outlook, including its very strong economy, strong budgetary performance and flexibility, very strong liquidity, and adequate debt and long-term liabilities.
The AA+ bond rating is considered “investment grade” and differs from the top AAA rating only slightly.
“The Town of Norfolk has a history of well-embedded financial practices as we regularly monitor our budgets and make fiscal plans based on the trends we identify in data we gather throughout the years,” Lindmark said. “Coupled with the limited capital needs outlined in our five-year capital improvement plan, we consistently have predictable year-end financial results. I would like to thank all those who commit much of their time and effort to supporting our financial stability as this rating can be attributed directly to their work.”
###
Discover more from John Guilfoil Public Relations
Subscribe to get the latest posts sent to your email.