~ Boston Maintains AAA Bond Ratings for 13th Consecutive Year, Mayor Wu Announces

Boston, MA - Mayor Michelle Wu proudly announced that the city of Boston has once again maintained its AAA/aaa bond ratings and stable outlook from S&P Global Ratings and Moody's Investor Service. This marks the 13th consecutive year that Boston has earned the highest possible ratings, reflecting confidence in its sound financial management and long-term stability.

Out of the seven major cities that carry a AAA/Aaa bond rating from both Moody's Investor Service and S&P Global Ratings this year, Boston is one of them. This prestigious rating indicates the highest credit quality and lowest risk, showcasing the city's strong fiscal management and ability to borrow at the lowest possible rates for capital investment.

Mayor Wu stated, "Only seven major cities carry a triple-A (AAA) bond rating from Moody's Investor Service and S&P so far this year—a distinction Boston has achieved for the 13th year in a row. This rating indicates the highest credit quality and lowest risk, reflecting our City's long-standing strong fiscal management and enabling us to borrow at the lowest possible rates for capital investment."

This AAA bond rating not only reflects Boston's strong financial position but also saves taxpayers millions of dollars as the city continues to invest in infrastructure, strengthen neighborhoods, and deliver high-quality city services. Despite facing a challenging national economic environment, Boston remains committed to delivering results through innovative governance, sound fiscal management, and strong community partnerships.

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Since 2014, Boston has maintained top credit ratings from both agencies due to its disciplined financial stewardship and robust local economy. This year's distinction affirms that despite economic challenges on a national level, Boston remains in a position of strength thanks to years of responsible financial management practices.

Ashley Groffenberger, Chief Financial Officer for the City of Boston said, "Fiscal discipline is at the core of what we do every day as a City, and this rating from Moody's and S&P acknowledges the City's strong position and long-standing fiscal management practices. The City will continue to manage through evolving, unpredictable, and challenging economic cycles and ensure Boston is in the best position to address uncertainty and fulfill its financial commitments."

The AAA bond rating ensures that Boston will receive the best possible rates when investing in public infrastructure, including parks, libraries, roads, and schools. This will also save taxpayers millions of dollars in the long-term, allowing the city to provide excellent services at a lower cost.

City Councilor Ben Weber, Chair of the Committee on Ways and Means, stated, "Earning another AAA bond rating shows the benefits of the disciplined collaboration between the Mayor and the City Council on our budget year after year. Despite facing economic challenges, we are still building on a strong foundation because of the hard work and talents of our residents."

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Both Moody's Investor Service and S&P Global Ratings highlighted Boston's strong financial position in their reports. Moody's stated that "Boston's financial position is strong," with healthy reserves and reliance on stable revenue sources such as property taxes. S&P Global Ratings praised Boston's "forward-looking and proactive management" with well-embedded policies for budget planning.

The Fiscal Year 2027 budget filed by Mayor Wu continues Boston's record of carefully balanced budgets and responsible fiscal management by delivering strategic savings while protecting core city services for residents and businesses. The city remains committed to meeting its fixed and long-term financial obligations while remaining deliberate and disciplined amidst an evolving economic climate.

Boston typically issues bonds at least once per year, with its upcoming bond sale expected to generate $600 million for over 200 capital projects in the city. These projects include new schools, park renovations, libraries, community centers, energy improvements, infrastructure projects, among others.

The full reports from Moody's Investor Service and S&P Global Ratings can be found on the City of Boston's website. With its continued AAA bond ratings, Boston remains a strong and stable city, dedicated to providing the highest quality of life for its residents.

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