Credit rating raised to AAA

Westwood’s credit has been raised to AAA by Standard and Poor’s, the highest credit rating a municipality can achieve. In the review, S&P said the upgraded status reflects the town’s “strong economy, very strong management, strong budgetary flexibility, strong budgetary performance, stable revenue profile, documented financial policies, commencement of commercial development, and strong performance on reserves and liabilities.” In their summer newsletter, selectmen said they have been committed to firming up the town’s financial position, and have succeeded. Acknowledging that vigilance is still key, they said, “This high rating is a great reward for all the hard work done by the community over the last several years.’’