Standard & Poor's has upped East Hampton's bond rating.
The national bond rating agency now classifies the town as having a AA+ rating instead of AA after a review of East Hampton's finances last month, The Middletown Press reported.
The Press reported that town officials are quietly pleased with the news, as the increase now means the town could be chargd lower interest rates when it borrows money.
Officials told the newspaper the reason S&P raised the rating was based partially on the town's stable property taxes, its fund balance and no operating losses in the general fund.
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