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The ratings represent the highest ratings awarded by each of the agencies. As a result of carrying the best credit rating available, Norwalk taxpayers are assured of receiving the most favorable interest rates available in the market when the city issues bonds to finance capital projects. This saves Norwalk taxpayers considerable interest expense during the entire life of the bonds.
“I am proud that we have continued our tradition of responsible fiscal leadership, and want to recognize Finance Director Tom Hamilton and his staff for a job well done," Rilling said in a press release. "The Aaa ratings are a very strong vote of confidence in Norwalk and will save taxpayers money, since they mean that we will get the most favorable interest rates available. We are in an excellent position to move forward with our plans for improving and strengthening our infrastructure in order to make Norwalk an even better city for residents, businesses, and visitors.”
The reports issued by the three credit rating agencies present a thorough, objective and independent analysis of the city’s financial operations and credit strength.
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