AVALON TO SAVE IN EXCESS OF $87,000 THANKS TO REFINANCING PRIOR DEBT-cnbnews.net

Borough’s high bond rating, conservative financial approach results in tremendous savings

(Avalon, NJ)—The Borough of Avalon will save in excess of $87,000 over the next three budgetary years thanks to the refinancing of a 2001 bond issuance. Avalon was able to refinance the bonds and save taxpayers’ money thanks in part to an exemplary AA+ bond rating that the Borough was recently awarded by Standard and Poor’s Rating Services, a division of the McGraw-Hill Companies, Inc.