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Bond rating gets a boost from Standard & Poor’s

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A Wall Street financial firm has raised the town’s bond rating. Standard & Poor’s last month announced that it had raised Westford’s bond rating to AAA, up from AA+, based on the town’s strong budgetary flexibility and performance and good financial management policies. The bond rating determines the interest rate at which the town is allowed to borrow money. Standard and Poor’s said the rating reflects the town’s stable economy and diverse property tax base, which lends itself to stability. In related news, Dan O’Donnell has been promoted to the position of town finance director. O’Donnell worked for the town in 1998 as an after-school counselor in the Recreation Department. While attending the University of Massachusetts Amherst and the University of Massachusetts Lowell, where he received his bachelor’s degree in business management in 2003, O’Donnell worked various part-time jobs in several different town offices. He returned to Westford in 2005 as a finance technician. He was promoted to finance and budget analyst in July 2010; the following year he was again promoted, this time to budget director. O’Donnell, who recently earned a master’s degree in public administration from Northeastern University, has been a “tremendous asset to our town’s operations,” according to Town Manager Jodi Ross, who counts on O’Donnell as a key member of the town’s finance team to make recommendations for improvement and to ensure that town officials follow Westford’s financial policies.

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