Lincoln receives another AA bond rating from Fitch

Lincoln receives another AA bond rating from Fitch

LINCOLN - Town Administrator T. Joseph Almond announced this week that Fitch Rating has again reaffirmed Lincoln's AA bond ratings and determined the town's financial outlook to be stable.

"To be able to maintain one of the highest bond ratings available in the state of Rhode Island, while many cities and towns continue to struggle, is a strong confirmation of Lincoln's strategic and responsible management of its fiscal resources," Almond said in a press release.

The review cited the town's conservative budgeting, diverse economy, commercial development, strong financial management, tax stability, credit profile, capital investment and sound financial performance by both the municipal and school departments.

"The town's annual budget process has focused on long-range planning to stabilize operating cost, provide excellent services more efficiently, increase cash reserves and invest in the town's infrastructure and school buildings," he said.

Almond offered thanks for the support of residents, businesses, Finance Department, Town Council, Budget Board, School Department and employees.

"We are achieving our goal to emerge from this economic downturn with excellent financial standing and a very positive long-term fiscal outlook," he said. "The fiscal management highlighted in this review will serve to benefit our local property taxpayers, residents, students and those employees that provide the essential services that make our community a great place to live and work."