Bedford, NH – The Town of Bedford is pleased to announce that Moody’s Investors Service (Moody’s) has once again affirmed Bedford’s bond rating to be Aaa (“Triple A”) in anticipation of its $10 million general obligation bond offering for completion of its multi-year road reconstruction program. Bedford remains the only municipality in the State of New Hampshire to receive Moody’s highest rating of Aaa which it first received in 2011.
Among multiple positive factors cited by Moody’s in assigning the Aaa bond rating to Bedford are the Town’s strong financial operations including, conservative budgeting practices, healthy reserves, and its strong economy anchored by a favorable location. Additional strengths acknowledged in Moody’s evaluation included the Town’s sizable and diverse tax base, ongoing new construction and development activity, and strong demographic profile.
"This is excellent news," stated Town Council Chairman, Bill Duschatko. "Moody’s Aaa rating is a great reflection of the solid financial policy put in place by the Town Council and full credit goes to our management team and employees who work constantly at providing great service to our community in a fiscally responsible manner.”
Rick Sawyer, Town Manager stated, “This rating and our position as the only community in the state to receive it over the last decade is something that the whole community should be proud of.” He concluded by, “thanking the residents of Bedford for overwhelmingly supporting the Roads Program and being so understanding with the impacts that road construction can cause on their daily lives.”