SWSC to Save Millions with Better Bond Rating

An upgrade in its bond ratings by Standard & Poor’s Rating Service will allow SWSC to save millions in debt service. S&P recently upgraded SWSC’s rating from “AA-with stable outlook” to “AA-stable,” which immediately translates into a present value savings of $2.43 million over the next 12 years due to debt refinancing. A recently issued revenue bond for future water and sewer infrastructure projects was also reduced from $24.8 to $21.1 million due to the rating upgrade.

“Our goal was to establish a sound and sustainable financial foundation in order to enable continued investment in our infrastructure while keeping rates affordable and stable,” said Joshua D. Schimmel, executive director of the commission.

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