Date: December 12, 2014
Deptford Township and Deptford Township MUA
In Excellent Financial Shape with “AA” Rating
Deptford Township is proud to announce the preliminary report from Standards &Poor’s (S&P) indicates that the Township and MUA’s bond ratings have increased to an AA! According to the S&P’s Guide to Credit Rating Essentials, this is an indication that Deptford Township and Deptford Township MUA have a “very strong capacity to meet financial commitments.”
While it is difficult to receive rating increases in these economic conditions, the rating committee pointed to a strong management of Deptford Township and Deptford Township MUA along with strong financial results over the last several years as the major reasons for the upgrade that we received. Our strong financial position is the result of the sound financial policies and proper budgeting techniques that have been implemented over the last several years.
This increase will be beneficial to both Deptford Township and Deptford Township MUA as we continue to make capital investments in the Township, because it results in a lower borrowing rate for debt.
This is a great recognition of all of the hard work that has been done to increase the financial stability of Deptford Township and Deptford Township MUA while maintaining or increasing the level of services to the residents.