Moody's Upgrades Dunstable's Bond Rating

Moody's Investors Service upgraded the Town of Dunstable's issuer and general obligation limited tax (GOLT) ratings to Aa3 from A1. This action concludes a review that was initiated on November 3, 2022 in conjunction with the release of the US Cities and Counties Methodology. The town has about $0.85 million in outstanding debt as of June 30, 2021.

RATINGS RATIONALE

The Aa3 issuer rating reflects Dunstable's strong resident incomes and wealth and very low leverage and fixed costs. Preliminary estimates for fiscal 2022 end show a modest surplus, further supporting the town's satisfactory reserves and liquidity. The town is largely residential and rural and residents benefit from proximity to Boston and Nashua. Resident income, measured as median household income adjusted for regional price parity, consistently exceeds 200% of the national metric. Full value per capita, totaling about $180,000 using most recent data, has been growing, reflecting a strong housing market.

To read the full press release issued by Moody's visit here.