, Salem, MA

Local News

December 13, 2013

Credit upgrade saving city $250,000

SALEM — The city will save more than $250,000 through bond refinancing after Standard and Poor’s upgraded its credit rating to AA earlier this week, Mayor Kim Driscoll’s office said yesterday.

The $251,915 in savings will come over the 20-year life of a $13.4 million bond, which will be used to fund renovations at Collins Middle School and Saltonstall Elementary School, a new Fire Department ladder truck and various other projects.

“I am pleased the city was able to move quickly to realize savings for our taxpayers following the recent bond rating upgrade,” Driscoll said. “By saving over a quarter-million dollars, we are already seeing the benefits from this enhanced bond rating.”

Neil Dempsey can be reached at

Text Only | Photo Reprints
Local News

AP Video
Renewed Violence Taking Toll on Gaza Residents 2 Americans Detained in North Korea Seek Help US Employers Add 209K Jobs, Rate 6.2 Pct House GOP Optimistic About New Border Bill Gaza Truce Unravels; Israel, Hamas Trade Blame Raw: Tunisia Closes Borders With Libya Four Rescued From Crashed Plane Couple Channel Grief Into Soldiers' Retreat WWI Aviation Still Alive at Aerodrome in NY Raw: Rescuers at Taiwan Explosion Scene Raw: Woman Who Faced Death Over Faith in N.H. Clinton Before 9-11: Could Have Killed Bin Laden Netanyahu Vows to Destroy Hamas Tunnels Obama Slams Republicans Over Lawsuit House Leaders Trade Blame for Inaction
Comments Tracker