By MATT BLOIS
The Town of Nolensville got a slight boost in its credit rating last week.
The financial research company Moody’s upgraded the town’s credit rating from Aa3 to Aa2 on July 23.
The rating is the company’s opinion of the town’s ability to pay back its debts. The Aa rating signifies that the town is likely to pay back its debts and presents a low risk. Its the third highest rating possible.
A press release from the company says the upgrade is due to the modestly sized, but growing tax base in Nolensville, the above-average wealth of residents and the town’s low debt burden.
It says the upgrade also recognizes the town’s solid financial performance, which it attributes to commercial and residential development as well as population growth.
The company grades governments on a scale from C to Aaa, where Aaa is the highest possible grade. There are three levels of Aa grades.
Williamson County has a Aaa issuer rating and Nashville has a Aa2 rating. Brentwood and Franklin have a Aaa rating from Moody’s.