Norwalk Mayor Harry Rilling announced his received reaffirmations of the “AAA” bond rating from the three major rating agencies ”“ Moody’s Investors Service, S&P Global Ratings and Fitch Ratings.
The AAA ratings are the highest that can be awarded at the municipal level. The reaffirmed ratings were assigned before the city’s bond sale scheduled for Aug. 8, where $70 million par value General Obligation Bonds, Issue of 2023 will be priced. Proceeds will be used to fund the city’s capital projects.
“The City of Norwalk has once again earned ‘AAA’ ratings from all the major credit rating agencies,” said Rilling in a press statement. “Achieving the highest ranking among Moody’s Investors Service, S&P Global Ratings and Fitch Ratings demonstrates our consistent efforts of exercising strong fiscal management while prioritizing smart budgeting practices. We have remained cognizant of the need to balance the critical investments in our community with a fiscally responsible budget that does not jeopardize residents’ ability to continue to afford to live in our beloved community. Our strong fiscal foundation will allow us to continue making smart investments in our community.”
