The Selectmen and Town Administrator were practically giddy on Tuesday night as they heard the results of a bond sale that took place last week.

Lisa Dickinson, of UniBank, handles the town’s bonds and said that due to the town’s recent upgrade to a AAA credit rating, they were favorably received in the marketplace.

The credit rating, allowed the bonds to get better interest ratings, she said. Three sets of bonds received low bids, resulting in a savings of $440,000 over the life of the bonds for the town.

“That’s almost a whole year’s worth of roadwork,” said Selectman Paul Silva.

Dickinson said Mattapoisett’s previous rating of AA was holding it back from getting better ratings. The new rating, a two step jump, is the result of “forward thinking” leadership.

“The management is very conservative, making the right decisions,” she said.

The savings will continue in the future as long as the bond rating stays high.

“Going forward, there will be a lot of interest every time Mattapoisett comes to market,” Dickinson said.