From Maplewood Township:
S&P Global Rating reflects strong financial management and improving reserves
MAPLEWOOD, NJ, September 3, 2026 – In a big win for local taxpayers, the Township of Maplewood has earned an exceptionally strong credit rating upgrade to AA+ from Standard & Poor’s (S&P) Global Ratings. Read the full report here.
A credit rating acts as a financial report card for a town — and moving up from AA to AA+ demonstrates that the credit rating agency sees Maplewood Township as a financially sound municipality that is making smart financial decisions.
This bolstered rating, which is only one notch below a pristine AAA rating, improves the Township’s ability to secure lower interest rates on future infrastructure projects, which could save taxpayer dollars.
S&P’s report points to several factors behind the upgrade, including positive financial performance, growing reserves, conservative budgeting, growing revenues and an improving overall debt profile. S&P also recognized efficiencies resulting from the creation of the South Essex Fire Department, a partnership Maplewood formed with South Orange in 2022.
“This higher bond rating is a result of the sound financial decisions made by the Township Committee,” Mayor Victor De Luca said. “We’ve worked hard to increase our fund balance, reduce our overall debt and control spending.”
The numbers tell an encouraging story. Maplewood has added more than $7 million to its reserves over the past four fiscal years, and the Township anticipates ending fiscal 2026 with more than $14 million in current fund reserves, a figure that represents nearly 22% of revenues.
To receive the grade, Maplewood Township provided S&P with extensive financial information and participated in a detailed ratings interview regarding the Township’s finances, budget, revenues, reserves, debt, and financial practices.
“This year’s effort was truly a team effort, with our township administrator, finance staff, attorneys, financial advisors and accountants working together to present a clear picture of Maplewood’s financial health,” De Luca said. “The result is an AA+ rating, and I’d say that’s a pretty good report card for Maplewood.”
RELATED: South Orange Village’s S&P Global Bond Rating Rises to AA+
