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Cumberland bond rating is upgraded

March 13, 2014

Photo by cmh2315fl/flickr

CUMBERLAND – In recognition of the town’s strong budgetary performance and good management practices, Standard & Poor's Ratings Services has raised Cumberland’s general obligation bond rating one notch to “AA” from “AA-”.

A bond rating for a town is like a credit rating for a person. The Standard & Poor’s Rating Services bond rating system uses an alphabetical scale from AAA - indicating an extremely strong capacity to meet financial commitments - down to D, marking an obligation that is in default.

For full story, see Friday's print edition of The Times.

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