Moody's Gives Medfield Aa1 Bond Rating, Cites 'Healthy Financial Position'

Medfield's upcoming general obligation bond issue of $9.5 million for construction of a public works garage will carry a rating of Aa1, according to an announcement by Moody's Investors Service published by Selectman Osler Peterson on his blog.

The statement from Moody's also re-affirms the town's rating of Aa1 for all of its outstanding debt, which Peterson said is one level below the top rating. He said he was told the town tax base is weighted too heavily to residential to get the top bond rating.

Ninety-four percent of the assessed valuation in town is residential property, according to the statement.

Moody's described the financial position of Medfield as healthy. "The Aa1 rating reflects the town’s healthy financial position with consistent reserve levels, stable residential tax base with strong wealth levels, and a modest debt profile with above average amortization of principal."