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Wilton Daily Voice serves Wilton, CT

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Wilton Gets Clean Bill of Financial Health

WILTON, Conn. – Wilton will once again be able to get the best terms on finances for capital projects now that Moody’s has restored the town's "Stable Outlook." 

“At the end of the day, the outlook is to provide an idea for investors about putting money into the town,” said Matt Spoerndle, Wilton’s financial advisor. “Investing in Wilton is extraordinarily safe, and as a result the town can get money at very low rates.”

The national credit rating and research firm recently announced that the outlook for Aaa-rated states and towns has been returned to stable from negative. The ratings were downgraded in August.

“After they reviewed it all they realized that Fairfield County shouldn’t have been on the list to begin with,” said Spoerndle, a managing director at Phoenix Advisors. The ratings reductions should have applied only to Washington, D.C. area communities because of their greater exposure to the effects of federal spending, he said.

“We weren’t surprised, but it just took them a while,” said Wilton Chief Financial Officer Sandy Dennies. “Wilton has been a very stable Aaa for several years.”

Spoerndle explained that Wilton was placed on negative outlook because Moody's believed it could be impacted by changes in federal spending. “They identified certain communities in certain regions that may be more exposed,” he said, though Wilton never lost its Aaa rating.

“If you have a high rating then you want to maintain it,” Spoerndle, said comparing the rating and the outlook to a person’s credit score. “You don’t want to be downgraded.”

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