Moody's Investors Service said it has upgraded to Aa3 from A1 the rating on $1.6 million of Pembroke, N.H.'s general obligation bonds.
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Concurrently, Moody's has removed the rating from review which resolves the earlier action.
Moody's placed the rating under review with direction uncertain on December 27, 2013, which was prompted by a lack of audited fiscal 2012 financial information which has since been received. The GO bonds are secured by the town's unlimited tax pledge.
The Aa3 incorporates the town's strong finances evidenced by ample reserves; minimal debt with rapid principal amortization; and a limited tax base with average wealth levels.
