RAYMOND, Maine — Standard and Poor’s has issued its AAA rating to the town of Raymond. The rating report cites the town’s strong financial condition coupled with strong management policies as leading factors in achieving its highest rating category. S&P considers Raymond’s economy to be strong with access to the broad and diverse economy of the Greater Portland region. Raymond is led by a strong management team backed with prudent fiscal policies. Very strong budgetary performance and low debt levels are also considered to be very positive attributes of Raymond.
S&P also reflected in its report that Raymond has healthy reserve levels; very strong tax collections; high income levels and very strong per capita market value of real estate.
Raymond, together with the towns of Falmouth and Kennebunk, are the only AAA communities in Maine rated by Standard & Poor’s.
This AAA credit rating applies to its upcoming sale of $2,000,000 General Obligation Bonds. This is Raymond’s first credit rating, as it had previously issued its bonds through the Maine Municipal Bond Bank. The bonds will pay for town road reconstruction and rehabilitation projects.
FOR MORE INFORMATION, PLEASE CONTACT:
Mr. Don Willard, Town Manager Mr. Sam Gifford
Town of Raymond Chair, Raymond Select Board
401 Webbs Mill Road 615-1509 cell
Raymond, ME 04071 655-3399 home
Mr. Richard Ranaghan, Senior Vice President Mr. Joe Bruno
Gorham Savings Bank Member, Raymond Select Board
63 Marginal Way 841-2327 cell
Portland, ME 04101