NASHUA, NH – After receiving 10 bids for a $59,665,000 20-year tax-exempt general obligation bond issue, Dawn Enwright, Treasurer for the City of Nashua, announced the selection of KeyBanc Capital Markets as the winning bidder, with an average interest rate of 3.409%.
The selection was made after Nashua received a “AAA” bond rating – the highest rating possible – from S&P Global Ratings, a municipal bond credit rating agency.
According to a press release issued by the city, “The rating agency cited the City’s diverse, growing economy, strong management, and history of conservative budget assumptions that support a long trend of positive operations and growing reserves as positive credit factors.”
Enwright said the ‘AAA’ rating could be compared to having a credit score in the high 800s.
“[The rating] means that the city is viewed as a very strong community with very strong conservative budgeting and strong management within the government,” she said. “It gives a stamp on the city as being a very good investment.”