Cranberry Township is saving a large amount of money through refinancing bonds with a strong credit rating.
A their meeting last week, the township’s Board of Supervisors approved the sale of Series 2011 and 2012 General Obligation Bonds.
Cranberry was able to save $3.5 million through the refinancing which worked out to over 12 percent of the total value.
The township was able to realize this savings through their Aaa credit rating from Moody’s Investors Service. Very few municipalities in the state have this highest rating which indicates the lowest level of credit risk.