From: Terenzini, Carter <cterenzini@TempletonMA.gov>
Sent: Monday, January 28, 2019 5:54 PM
To: Caplis, John; Morrison, Doug; Diane Haleybrooks; Richard, Julie
Cc: Jeff Bennett (j_bennett506@hotmail.com)
Subject: Credit Rating Call

 

Good Day:

Kelli, Cheryl, Adam, Tony R., Mary C. of Hilltop Securities and I had our rating call with Moody’s mid-day and I think it went very well.  They seemed impressed with the turnaround of the Town’s finances and the adoption of formal financial management policies which put in place – together with a coherent and knowledgeable staff- a solid infrastructure which should keep the Town on a solid footing going forward. 

I don’t want to get too hopeful but… I am thinking we may exceed my original prediction of a Baa rating.  Please light a candle and keep your fingers crossed. 😊

We expect to receive a press release from them early next week that we will have an opportunity to review for errors of fact and then – possibly by mid week – our rating will go public.  The formal packet of how they got to the rating will probably lag by a few weeks. 

We will keep you and the AC posted.

Excellent, the Town will now have a decent bond rating, just in time for new school borrowing to hit tax rte at same time the probable tax override to fund school operating budget comes on. Now if the interest rates hold, Templeton residents will have that elusive tax rate of $20.00 per thousand that John Caplis likes to talk about. Perhaps the tax rate will even be larger?