Cambridge Awarded Three AAA Ratings for 25th Consecutive Year

The City of Cambridge retained its distinction of being one of approximately 24 cities in the United States to earn AAA ratings from each of the nation's three major credit rating agencies in March 2024. For 25 consecutive years, the City has received these noteworthy ratings annually from Moody's Investors Service, S&P Global Ratings, and Fitch Ratings.

The favorable credit ratings that the City has consistently received play a direct role in limiting the burden placed on taxpayers in the community, while also providing and maintaining the ability to make major investments in key initiatives and community priorities.

On March 6, 2024, the City sold $160M in General Obligation Bonds to finance capital projects such as open space and path projects, fire station headquarters, Harvard Square Kiosk surface enhancements, Central Square reconstruction, street and sidewalk reconstruction projects, municipal facilities, sewer reconstruction, and school construction and building repairs. With the City’s AAA bond rating, these bonds were sold at a low, true interest cost.

In determining the City’s credit rating, the rating agencies consider criteria related to the City’s management, the strength of the local economy, the city’s financial condition and reserves, and debt burden. The rating agencies highlighted the City’s strong management and fiscal practices, financial flexibility, formal policies, budgetary stability, and healthy reserves.