Mattapoisett earns highest fiscal rating from Standard & Poor’s
Citing a robust economy, strong management and sound fiscal policies, Standard & Poor's issued its highest rating for Mattapoisett.
Representatives from the global financial services firm spoke with town officials on Feb. 6. They issued the AAA rating on Feb. 13.
Town Administrator Mike Gagne announced the good news at Monday night's Selectmen meeting. He did note that this year's conversation with Standard & Poor's was slightly different than past calls.
"This is the first time I've seen them ask what does the community have in place when it comes to mitigating storms and sea level rise," said Gagne, adding that Mattapoisett has a comprehensive plan already in place. Three years ago, the town's plan received approval from FEMA and other federal agencies.
"They are asking about a lot more than the hard financials," said Gagne.
Selectman Chair Paul Silva agreed.
"The risks are greater today," he said.
The AAA rating from Standard & Poor's deems the town's financial obligations to be of the highest quality and the lowest credit risk.