STAMFORD, CT - The City of Stamford is happy to announce its “AAA” bond rating has been affirmed this year by credit rating agencies Standard & Poor’s and Fitch. Both agencies commended Stamford’s economy and the City’s financial management.
“I promised residents I would address our City’s fiscal issues and this bond rating affirms we have kept that promise,” said Mayor David Martin. “Responsible financial decisions don’t make grabby headlines, but they do make Stamford more fiscally secure for our community’s future.”
Stamford’s “AAA” bond rating is the highest possible rating for both agencies and is higher than the State of Connecticut’s rating (A from S&P, A+ from Fitch).
“We believe the city’s ongoing developments will continue to expand its tax base and provide additional revenue-raising flexibility,” Standard & Poor’s report said. “Coupled with its strong management conditions, this should allow the city to maintain positive financial operations and stable reserve levels.”