Stamford Maintains AAA Bond Rating, Simmons Announces

STAMFORD, CT — Mayor Caroline Simmons announced this week that Stamford’s "AAA" bond rating has been reaffirmed by S&P Global Ratings, the highest rating possible. Stamford is the only city in Connecticut to hold this distinction, an announcement from the city said.

S&P cited several factors supporting the rating, including strong management practices, a sizeable and growing grand list, budgetary discipline, moderate debt levels, and well-funded pensions.

"This recognition is excellent news for Stamford residents and reflects the strength of our city’s economy, budgetary discipline, and sound financial management," Simmons said in an announcement. "By lowering borrowing costs for schools, road and sidewalk repairs, and park improvements, this rating helps us deliver savings for residents while continuing to invest in our community."

S&P highlighted Stamford’s strong economic base as a regional employment hub with diverse industries, disciplined fiscal management through cautious budgeting and long-term planning, sustainable financial practices including well-managed debt and robust pension funding, and effective leadership focused on transparency and accountability.

The announcement from Simmons notes the AAA rating allows Stamford to finance major projects, such as improvements at Westhill High School and Roxbury Elementary School, at lower borrowing costs, saving taxpayer dollars.