Milton will continue to borrow money at the most favorable rates available to any municipality.

S&P Global Ratings reaffirmed the town's AAA bond rating, the highest grade a municipality can receive, Town Administrator Nicholas Milano and the Milton Select Board announced Thursday, Sept. 17. The agency also reaffirmed Milton's SP-1+ short-term rating, Milton Scene reported.

Milton has held the AAA designation since 2014.

What S&P cited

In its rating report, S&P Global Ratings pointed to continued growth in Milton's tax base, positive budget results in recent years and a strong financial management framework. The agency specifically noted the town's budgeting practices, long-term capital planning and reserve and debt policies.

Why it matters for taxpayers

A AAA rating gives Milton access to capital markets at the most favorable borrowing rates available. That translates to lower long-term financing costs every time the town issues bonds for infrastructure, equipment or school facilities.

The timing is relevant. Milton's School Building Committee is in the early stages of a feasibility study with the Massachusetts School Building Authority (MSBA), according to the committee's page. Voters approved funding for the study at the February 2025 Special Town Meeting. Any future borrowing for school construction or renovation would benefit from the lower rates the AAA rating secures.

No bond issuance for school projects has been announced. The committee's work remains in the feasibility phase, with an MSBA Feasibility Study Agreement executed earlier in 2026.

What the rating does not cover

The S&P report evaluates Milton's creditworthiness based on financial indicators. It does not assess the condition of town buildings or the scope of future capital needs.

Milano, who also serves as a non-voting member of the School Building Committee, made the announcement jointly with the Select Board. The full S&P Global Ratings report is available on the town's Financial Information webpage at townofmilton.org.