Home Government Brick Receives ‘High Grade’ Credit Rating

Brick Receives ‘High Grade’ Credit Rating

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Brick Municipal Building / Photo: Daniel Nee
Brick Municipal Building / Photo: Daniel Nee

Brick’s credit rating was assessed at Aa2 by Moody’s Investors Services, the third-highest rating a municipality can receive.

The ratings is considered “high grade” and an overall investment-grade rating, which allows the township to pay low interest rates on its debt.

“They look at us as a very financially supple town,” said Mayor John Ducey.

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Ducey said part of the reason for the high rating was due to the township’s current surplus. Brick’s surplus level became a campaign issue during the most recent election, with the Republican council candidates criticizing Ducey’s administration for keeping approximately $10 million surplus.

“They’re giving us the highest rating because we have the surplus,” Ducey said. “There was talk leading up to the [election] that we shouldn’t have a surplus, that it’s a waste. But it shows we’re a financially strong town, that we’re not going out of business.”

Brick uses its borrowing power to fund its capital budget, which includes items such as road improvements, park projects, equipment upgrades and other infrastructure improvements.

“The only way you can do a park, do infrastructure [projects], is to borrow,” said Ducey. “And the interest rate you pay is based on your rating. It’s not the most exciting thing in the world, but it’s an exciting thing for the town.”


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  • JJones

    If there is a 10 million surplus it would have. Been nice to cut taxes to help the families of Brick…

  • SoWhat?

    Thank Steve Acropolis and the GOP council for raising taxes 25%. That is why there is a surplus.

    Roll back that tax increase that cost Acropolis and the GOP their jobs and lets see what the dems come up with.

    Ducey and Fozman and all the dems lambasted the GOP for that big tax increase, but now they are living large on it.

    GIVE IT BACK TO THE TAX PAYERS . NOW!

  • SoWhat?

    Ducey will build up surplus and then cut taxes right before his re-election campaign begins.

    Ducey will be re-elected because of the 25% Acropolis tax increase, that Ducey ran against in the first place.

    How ironic.

  • JJones

    Sowhat…the people of Brick don’t realize the white hat democrats aren’t the superstars they tell everyone they are …

  • JJones

    How about taking a piece of that surplus and attemp to stop the increase of crime and drugs in Brick..