Moody’s 10/20/22: Moody’s assigns Aaa to Wayland, MA GOs.

Moody’s Investors Service has assigned a Aaa rating to the Town of Wayland, Massachusetts’s $21.5 million General Obligation Municipal Purpose Loan of 2022 Bonds. Moody’s maintains the Aaa rating on the town’s outstanding general obligation unlimited tax (GOULT) and general obligation limited tax (GOLT) bonds. The outlook is stable.

The Aaa GOLT rating reflects the town’s stable tax base supported by very high resident wealth and incomes. The rating also incorporates the town’s balanced financial operations with reserves continuing to trend lower than the Aaa median. Additionally, the town continues to aggressively fund its OPEB liability, and we expect both the debt burden and pension liability to remain manageable.