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October 21, 2014
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UnionActive Newswire
 
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Updated: Oct. 21 (09:01)

McGaha-Gammon Team 391 Wins Re-Election
Teamsters Local 391
Attention Members: You're Invited!
INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS LOCAL 159
President Dimondstein invites you to join in on an important conference call Thurs. 10/23
APWU Cleveland Area Local
LiUNA Local 32 featured on local TV
Great Plains Laborers' District Council
SRP Medical Open Enrollment Informational & BBQ
I.B.E.W. Local Union 266
2014 Valley Picnic
I.B.E.W. Local Union 266
 
     
Town's Bond Rating Improves on Police Google Settlement
Posted On: Mar 27, 2013

http://valleybreeze.uberflip.com/i/117836/2

Town's bond rating improves

Lombardi: Rating jump could help save interest dollars

NORTH PROVIDENCE - The latest bond rating upgrade for this town is a big one, says Mayor Charles Lombardi, and will hopefully open the door to more savings for local taxpayers.

Standard & Poor's Ratings Services officially announced Monday that North Providence's longer-term rating on its general obligation bonds was raised two notches, from "BBB-" to "BBB+" reflecting the town's improved financial position and last year's $60 million windfall from a settlement with Google. The town's outlook remains stable.

While a bond rating upgrade would typically make borrowing new money more affordable with lower interest rates, said Lombardi, he's not looking to borrow any more money right now.

"It's always great to have your bond rating increase to show that you're in sound fiscal shape, but where this will help us, hopefully, is the notes that we have outstanding, we'll be able to re-issue those bonds for the same amount of money and save considerably on the interest," said Lombardi.


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