Moody’s Upgrades Warrington Township Bond Ratings

Warrington Township has announced that its bond ratings have been upgraded by Moody’s Investor Services for its outstanding debt. Moody’s assigned an Aa general obligation unlimited tax (GOULT) rating to the townships $7 million General Obligation Bonds, Series of 2020. In addition, Moody's has upgraded the township's GOULT rating to Aa1 from Aa2, affecting $17.1 million in guaranteed debt outstanding.

The township's Aa1 GOULT rating reflects its large tax base with above average wealth, modest debt, and strong financial position bolstered by the recent sale of its water and sewer systems. Typical factors that contribute to a ratings upgrade may include a significant tax base expansion and continued growth in reserves and liquidity.

“This is a great achievement for Warrington,” said Township Manager Barry Luber. We are in a select group of Pennsylvania Municipalities that have the Aa1 designation. This will save Warrington Township residents money any time we need to borrow funds for capital projects.” Luber continued, “This upgraded rating is due in part to strong fiscal policies, good fiscal management and conservative budgeting by the Township and an above-average Fund Balance (“rainy day fund”) that the Township maintains.”

For more information about Moody’s Investor Services ratings visit www.moodys.com.

About Warrington Township

Warrington Township is located in central Bucks County, approximately 20 miles north of central Philadelphia. The Township encompasses 13.5 square miles, bordered on the north by New Britain, Warwick, and Doylestown Townships, on the east by Warminster Township, and on the south and west by Montgomery and Horsham Townships.

Warrington Township is an outstanding community in which to live, work, shop, learn, and recreate with many unique opportunities to enhance the quality of life for those who reside, work, or visit. The goal of the township is to responsibly manage community

change and protect community character and assets; preserve the natural environment and farmland; improve mobility; provide adequate township services and public facilities efficiently and equitably; and promote the economic and social well-being of the community. The township is committed to protecting the township, improving the quality of life, sustaining its neighborhoods, and serving the health, safety and welfare of its residents and businesses.