Burlington bond rating upgraded to A2

BURLINGTON, Vt. (WCAX) City Hall calls it good news for Burlington taxpayers. Moody's just upgraded the Queen City's bond rating to A2.

Mayor Miro Weinberger says he knows talking about bond ratings sounds wonky, but he says upgrades like this save taxpayers money.

"Every time we have a credit rating improvement, we save millions of dollars for Burlingtonians. It keeps millions of dollars in the pockets of Burlington residents," said Weinberger, D-Burlington.

This is the third bond rating upgrade in three years. Moody's points to the pending sale of Burlington Telecom as playing a role. A final deal that avoids lawsuits can help fuel another upgrade, but any problems with the deal could lead to a downgrade.