One of the nation’s top bond rating agencies, Standard & Poor’s Global Ratings (S&P) recently raised its rating on the Town of Indian Trail’s general obligation (GO) debt to ‘AAA’ from ‘AA+’. This is the highest financial rating a municipality can achieve and shows the Town has a strong capacity to meet is financial commitments. 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 percent interest rate, one of the lowest available.
“The ‘AAA’ rating from Standard & Poor’s is a testament to the leadership of our Town Council and the sound fiscal management of our finance department,” said Town Manager Mike McLaurin. “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 strong economy, market value, steady fund balance and budgetary flexibility, and its strong financial management policies and practices.