S&P Global Ratings Affirmed the Village’s ‘AAA’ Bond Rating

the staff of the Ridgewood blog

Ridgewood NJ, in December 19th, Ridgewood Village Manager Keith Kazmark shared a significant financial milestone for the Village of Ridgewood: S&P Global Ratings affirmed the Village’s ‘AAA’ bond rating and removed it from under criteria observation.

Kazmark emphasized the importance of sound financial planning, stating, “We are working every day to ensure proper fiscal planning here in Ridgewood.”

What Does an S&P ‘AAA’ Bond Rating Mean?

S&P Global Ratings is a trusted authority in assessing the creditworthiness of corporate and government bonds. Their scale ranges from ‘AAA’, denoting the highest quality and lowest risk, to ‘D’, indicating default. A ‘AAA’ rating reflects a municipality’s strong financial health, robust fiscal policies, and ability to meet its debt obligations.

Why It Matters

This top-tier rating enhances Ridgewood’s financial standing, signaling to investors that the Village is a low-risk, high-reliability option for bond investments. It also enables Ridgewood to secure favorable terms when borrowing, potentially reducing costs for infrastructure and community projects.

Commitment to Fiscal Excellence

The affirmation of Ridgewood’s ‘AAA’ bond rating underscores the Village’s dedication to responsible financial stewardship. By prioritizing sound fiscal management, Ridgewood ensures a stable and prosperous future for its residents and investors alike.

 

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