Guilford Receives Top Credit Ratings For 2025 General Obligation Bonds

GUILFORD, CT — The Town of Guilford has secured the highest possible credit ratings from both Fitch Ratings and S&P Global Ratings for its upcoming $7 million Series 2025 General Obligation Bonds.

Both agencies issued a "AAA" rating with a stable outlook, allowing the town to borrow at favorable rates to support a range of capital improvement projects for municipal and school infrastructure.

Fitch cited Guilford’s "exceptional financial resilience, strong budgetary performance, and low long-term liability burden" in its rating, the town said in a news release.

The agency noted that the town has maintained an unrestricted fund balance exceeding 17 percent of spending over the last five years, including a $22.5 million balance in fiscal year 2024, or 18 percent of spending.

Fitch also pointed to Guilford’s "strongest" rankings for educational attainment and median household income as key indicators of long-term financial flexibility.

S&P Global Ratings highlighted Guilford’s consistent operating surpluses, well-established financial management policies, and expanding residential tax base. In 2024, the town’s grand list grew by $1 billion.

Analysts also commended Guilford’s initiatives in affordable housing and coastal resiliency, noting expectations that the town will maintain solid reserves while responsibly managing future investments, including anticipated annual bond issuances of around $5 million.

"Receiving the highest credit ratings from both Fitch and S&P reflects the Town of Guilford’s sound fiscal policies, responsible budgeting, and long-term financial planning," said First Selectman Matt Hoey in a prepared statement. "These ratings enable us to secure favorable borrowing terms, ensuring continued investment in our community infrastructure while protecting taxpayers."

The Series 2025 bonds are supported by the town’s full faith and credit and its unlimited taxing authority.