S&P also highlighted the DeMaria administration’s formal five-year, long-term capital and operating projections and regular reporting on city finances with budget-to-actuals submitted to city council monthly and investment statements shared quarterly.Īccording to S&P, the City’s credit profile is supported by its stable financial performance, leading to steady reserves, which is expected to continue over the next two fiscal years.
S&P cited the city’s strong management, strong budgetary performance with operating surpluses, very strong budgetary flexibility, very strong liquidity, and low overall net debt. At the same time, S&P affirmed its ‘AA+’ long-term rating on the City’s existing debt, which means the outlook is stable. S&P also affirmed the outlook on the City’s existing debt is stableĮVERETT, MA – Mayor Carlo DeMaria is pleased to announce that Standard & Poor’s (S&P) Global Ratings assigned its ‘AA+’ long-term rating to the City of Everett’s $7.205 million series 2023 general obligation (GO) municipal purpose loan bonds for the seventh year in a row.
