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The original item was published from 10/15/2020 1:17:00 PM to 10/23/2020 12:00:09 AM.

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Posted on: October 15, 2020

[ARCHIVED] Cherry Hill Township Receives Top Grade from Ratings Agency

aaa rating

The credit ratings agency Moody’s Investor Service has upgraded Cherry Hill Township’s bond rating to the highest rating a municipality can achieve.

The ratings increase is the result of strong fiscal procedures, smart economic development, a healthy reserve, our diverse tax base and our consistently stable tax rate. As we continue to navigate through these challenging times, we are happy to report this very positive news for the Township.

The triple-A rating will allow the Township to borrow money at the lowest interest rate offered to municipalities, which could result in significant cost savings for the Township and taxpayers.

The ratings increase is a strong affirmation of many years of fiscal discipline and strategic investment in our community.

The Moody’s report further indicated that the stable outlook reflects the expectation that, despite the pandemic, the Township's tax base and finances will remain strong in the near to medium term.

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