Bloomfield, NJ - February 26, 2026 - The Township of Bloomfield has earned a MIG1 rating from Moody’s, the highest possible short-term credit rating, for its $16.2 million bond anticipation notes for 2026, reinforcing confidence in the Township’s financial management and direction. Moody’s also affirmed Bloomfield’s A1 long-term issuer rating.
The MIG 1 designation represents the lowest level of short-term credit risk and enables the Township to borrow at more favorable interest rates, helping to reduce costs for taxpayers while supporting important infrastructure investments.
Mayor Jenny Mundell said the rating reflects Bloomfield’s disciplined approach to strengthening its financial foundation and ensuring long-term stability.
“Municipalities across the country have faced significant financial headwinds, and Bloomfield has been no exception.” said Mayor Mundell. “From day one, our administration has focused on improving oversight, controlling costs, and making strategic decisions to better position the Township for the future. While there is more work ahead, this rating reflects growing confidence in our financial management and our commitment to responsible stewardship on behalf of our residents.”
Moody’s cited Bloomfield’s strong local economy, ongoing redevelopment, and proximity to major employment centers as key strengths supporting the rating, as well as the administration’s efforts to maintain stability in operations and reserves.
Strong credit ratings are essential to maintaining financial flexibility and ensuring continued investment in critical infrastructure, including water system improvements and other capital projects.
“We are committed to building on this progress,” Mayor Mundell added. “Our administration will continue to make thoughtful, fiscally responsible decisions that protect taxpayers, strengthen our financial health, and support Bloomfield’s continued growth.”