INDIAN TRAIL – One of the nation’s top bond rating agencies, Standard & Poor’s Global Ratings recently raised its rating on the Town of Indian Trail’s general obligation debt to ‘AAA’ from ‘AA+’.
This is the highest financial rating a municipality can achieve and shows Indian Trail has a strong capacity to meet its financial commitments, according to the town.
Only a few cities in North Carolina hold the ‘AAA’ rating. S&P also assigned its ‘AAA’ long-term rating to the town’s $6.5 million series 2021 GO public improvement bonds. In September, Indian Trail sold $6 million worth of these bonds and received a 1.5% interest rate, one of the lowest available.
“The ‘AAA’ rating from Standard & Poor’s is a testament to the the leadership of our town council and the sound fiscal management of our finance department,” Town Manager Mike McLaurin said. “The rating will help ensure Indian Trail continues to receive low interest rates, saving our taxpayers a considerable amount of money.”
Many factors influenced Indian Trail’s ‘AAA’ rating, including its economy, market value growth, fund balance, budgetary flexibility and financial management policies and practices.
Visit www.indiantrail.org for details.