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It also provides assurance that the city has high quality bonds, with the least amount of risk, and that both principal and interest on the bonds will be paid on time and in full. The superior rating also represents the overall creditworthiness of Suffolk’s state bonds, according to William Franklin, media and community relations, city of Suffolk. Fitch Ratings is the latest to confirm this with its announcement at the end of July. “Some examples of capital improvements include school replacements, road improvements and repairs, and maintenance of city buildings and facilities, all of which contribute to the quality of life for the citizens of Suffolk.”įor the fourth year in a row, the city of Suffolk’s three bond rating agencies - Fitch Ratings, Moody’s Investors Service and S&P Global Ratings - have affirmed the city’s AAA bond rating, signifying that the city has excellent credit standing and that its future financial outlook is stable.
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“Having a strong bond rating allows the city to borrow money for capital improvements at the lowest interest rates available in the financial market, saving the city and its taxpayers millions of dollars in interest payments over time,” said Tylen Hansen, finance department of Suffolk Director. In the case of the city of Suffolk, its credit is excellent, meaning that when city officials need to borrow money for community improvements and development, it’s not a problem. “We are giving local business owners a platform to show their best.Look at it this way: A city’s bond rating is like a person’s credit rating-the better it is, the more you can do. “Sometimes these businesses get lost in the shuffle,” Hughes said. Hughes said this is one way that The News-Herald supports local businesses - by recognizing how good they are and letting readers know how much they are valued by their customers. The other major feature of the contest is that all winners will be featured in a large Best of the Best special section of The News-Herald this fall, which also serves as a keepsake for most of the recognized businesses. Each winner also received a “swag bag” that contained a variety of small gift items from The News-Herald. Last year, all winners of the contest were provided a Best of the Best Readers Choice Award digital file to add to their websites, as well as window clings of the logo they could display in their establishments.
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Hughes said several businesses remarked that winning a contest like this is akin to a “mini 5-star Google rating.” 26 in a special section published in The News-Herald.Īs excited as the readers are about this contest, it’s really special to Downriver businesses because it’s “hyper local” and provides winners with something they can hang in their establishments in pride. The top three winners in each category will be announced Sept. The top five entries in each category will be voted on from Aug. In the throes of a worldwide pandemic, they still made sure to vote so that their vote could be counted in this contest.” The idea is to offer small businesses an opportunity to get out of the shadow of big retail and franchise stores and have a time to shine.īeginning July 14, readers can nominate and later vote on their favorites by visiting /contest.Įven though contests most often are entered online these days, Hughes said contest organizers were surprised last year at the huge number of readers who took the time to fill out paper nomination forms and ballots and dropped them in a mailbox. With over 100 categories, chances are that your favorite businesses will fit in at least one of those categories, and perhaps more.