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Monroe’s Bond Rating Shows Township’s Strong Financial Footing

Township Secures Lowest Interest Rates in Memory

MONROE TOWNSHIP – May 26, 2021 – In yet another affirmation of Monroe’s strong fiscal position, Standard & Poor’s has given the Township an “AA+” bond rating, the second highest bond rating assigned by the company and only awarded to 10% of municipalities nationwide.  The Township’s short term borrowing rate is SP 1+, the highest rating available in that category.

Such a strong rating underscores the strong creditworthiness of Monroe as an issuer of bonds, signifying the municipality has strong financial backing, excellent credit reserves, and limited debt. 

Because of such a strong bond rating, following a detailed review of the Township’s finances by third-party independent fiscal experts at Standard & Poor’s, Monroe can borrow money at the lowest interest rates available. During a May 25 bond sale, the Township secured its lowest interest rates, in memory, with 1.43% rate for a 15-year-bond and 0.20% for a one-year bond.  These rates, which are lower than expected, will save the township approximately $130,000 in 2022.

“Our excellent bond rating reflects our strong administrative management, consistent financial operations and low debt,” explained Monroe Mayor Stephen Dalina. “This accomplishment is not solely because of my Administration. We’ve continually tightened our belt and focused on operational efficiencies, and the financial services companies have clearly taken note.”

“I am proud of our AA+ bond rating that directly results in taxpayer savings,” Dalina said. “Monroe is in a strong financial position for years to come.”

All media inquiries may be directed to the Monroe Township’s Public Information Officer Stacey Kennedy at 732-521-4400 or skennedy@monroetwp.com.