Rating agency says Burrillville ‘strong’

BURRILLVILLE – The town of Burrillville has earned strong financial marks from Fitch Ratings, which has assigned an AA rating to the town’s $27.4 million in general obligation bonds.
The rating is four notches below Fitch’s top AAA+ rating, but well above its junk bond status.
In assigning an AA rating and saying the outlook is “stable,” Fitch said the town’s financial position is “strong.”
“Management has made prudent and conservative budget decisions contributing to its history of sound operating and solid reserve levels for both municipal and school department operations,” Fitch said in its report.
Meanwhile, Fitch affirmed its BBB- rating on the R.I. Health and Education Building Corp.’s outstanding $3.8 million health facilities revenue bonds for the Steere House, a nonprofit nursing and rehabilitation home in Providence.
Fitch said the rating outlook is stable.