Read as much as you want on BostonGlobe.com, anywhere and anytime, for just 99¢.

Melrose

Melrose bond rating jumps two steps

Continue reading below

Standard & Poor’s Rating Service has raised the city’s credit rating two steps, to AA+ from AA-, giving Melrose its highest-ever bond rating. Credit analysts noted the city’s stable outlook is helped by a strong local economy, conservative budgeting, and sound financial management, among other factors. The new rating should help the city get more favorable rates when it issues $10 million in long-term bonds to help pay for capital projects, including improvements to parks and recreation facilities. “This is a double shot in the arm for us, at a time when we are still in a very challenging economy,” Patrick Dello Russo, the city’s chief financial officer, said in an interview. “It shows that our financial practices are paying off.”

Loading comments...
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com