Ansonia’s Bond Rating Upgraded

Mayor James Della Volpe announced Monday that the City’s bond rating was upgraded from A1 to Aa3 by Moody’s Investors Service. 

Moody’s rating service is based in New York City and rates all municipal bond issues across the country. Click here for more information on bond ratings. 

The rating upgrade reflects the city’s strong financial operations evidenced by several consecutive years of operating surpluses resulting in ample financial reserves. This rating upgrade also acknowledges the disciplined approach the city utilizes for financial planning.

The City’s Comptroller, Joseph Miller is in the process of refinancing existing bonds to try and save the City over $750,000. The City has been working on this refinancing opportunity for several months and is hoping to lock in the savings this week.

According the City’s Financial Advisor, Barry Bernabe, Vice President of Webster Bank, the City is in a very select group of communities to achieve a rating upgrade in these tough economic times. The upgrade to the double A’ rating category will allow the City to refinance debt at a historically low rate.”

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