Credit Rating Agencies Affirm Springfield's Highest Bond Rating

Mar 12, 2017

City Hall in Springfield, Ma

Wall Street has confirmed the financial stability of the largest city in western Massachusetts.

Springfield Mayor Domenic Sarno said he is excited with the affirmation from credit rating agencies Standard and Poor’s and Moody’s of the highest bond ratings in the city’s history.

" When I took over ( in 2008), you were looking at almost junk bond status," said Sarno.

The mayor’s office said the city recently sold bonds to refinance debt from 2007 to save $3.8 million.             

   Part of the proceeds from the $27 million bond sale will go toward the city’s share of the $95 million Union Station project.