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Standard & Poor's credit rating agency reaffirms Bethel's status

Standard & Poor’s credit rating agency has reaffirmed Bethel's AAA-stable status on long-term debt.  The organization issued an SP1+ rating on short-term debt.  Standard & Poors says that means it believes Bethel has a “very strong capacity” to pay its debt. The town has had theAAA rating since 2014.  The review was conducted ahead of the issuance of long- and- short-term notes for the renovations to Rockwell and Johnson schools.  At the time, Bethel officials said the good rating was important because the town would be able to borrow at lower interest rates for major capital projects like the school renovations.  Despite the effects the pandemic is having on the economy, Standard and Poors said Bethel's economy, financial policies and cash reserves are strong.  The review says the agency expects the primarily residential community to sustain strong underlying economic indicators, with its credit profile bolstered by significant reserves and cash and investments on hand.

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