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S&P Global Ratings has reaffirmed the Town of Westwood's AAA bond rating on October 30th, the highest possible rating a municipality can receive, announced the Town of Westwood on November 3rd.
The AAA rating assigned by S&P Global Ratings indicates that Westwood's capacity to meet its financial obligations is extremely strong.
"This reaffirmation reflects the Town's continued strong financial position, prudent management practices, and long-term commitment to fiscal discipline," said Westwood Finance Director and Treasurer/Collector Stephanie McManus.
"In its report, S&P highlighted Westwood's realistic budgeting assumptions, sound financial performance, and strong management culture," said Interim Town Administrator Molly Fitzpatrick at Westwood Select Board's remotely held meeting of November 3rd.
"Maintaining this rating allows the town to borrow the most favorable interest rates, reducing costs for our capital projects, and directly benefits the taxpayers and it's a great reflection of the town's financial strength and the hard work of our finance team across the organization," she said.
As part of the rating process, S&P conducts a detailed review of the Town's budget practices, financial policies, reserves, long-term planning, internal controls, and risk management.
Westwood is one of 80 Massachusetts municipalities holding the AAA rating, according to S&P Global's current list of U.S. municipalities rated AAA, as of October 1, 2025.
In a press release, the town attributes its AAA rating to "a true town-wide effort" by residents, elected officials, and staff. It cites thoughtful decision-making by residents at Annual Town Meeting and "conservative, well-structured operating budgets" from Select Board.
Thanks to the Town of Westwood for sharing its news with Westwood Minute.
