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S&P Global Ratings reaffirms AAA status to Bethel's bond rating

S&P Global Ratings has again reaffirmed AAA status to Bethel’s bond rating. This is the highest rating possible and applies to the town’s existing bond debt as well as to the upcoming bond sale to cover the remaining costs of Johnson and Rockwell school renovations.  First Selectman Matt Knickerbocker says the high bond credit rating ensures Bethel will receive the lowest possible interest rate on its bonds, resulting in significant savings for taxpayers over the life of the loan. In addition, S&P stated Bethel’s debt is eligible to be rated “above the sovereign,” indicating the Town can maintain better credit performance than the U.S. government under conditions of economic stress.  The agency cited strong management with good financial policies and practices, budget flexibility, with reserves at 22% of operating expenses and debt control, with debt service at 5-point-2% of operating expenses.