City Sells $13,560,000 Tax-Exempt General Obligation Bonds Net 2.938%
Standard & Poor’s Assigns AA+ Rating in Connection with Sale
The City of Concord, NH, is very pleased to report that it received competitive bids on Wednesday, January 25, 2023 for a $13.560 million 20-year general obligation bond issue. The City received 11 bids in connection with the sale, and Fidelity Capital Markets purchased the bonds at an average interest rate of 2.938%. Bond proceeds will be used to fund various capital improvement projects approved by the City Council.
Prior to the sale, Standard & Poor’s Global Ratings, a municipal bond credit rating agency, affirmed the City’s bond rating of AA+. The agency cited the City’s strong economy, very strong management, strong financial policies and practices, very strong budgetary flexibility, very strong liquidity and very strong institutional framework as positive credit factors.