Politics & Government
Fairfield's AAA Rating Secures $41.4 Million for Capital Projects: Tetreau
Nerly $41.4 million in bonds were sold to finance town projects such as the renovation at Fairfield Woods Middle School.
Touting its achievement as a testament to financial strength and leadership, the Fairfield first selectman’s office said Thursday that the town has received a AAA rating from Standard & Poor’s Ratings Services to fund a series of capital projects.
First Selectman Mike Tetreau said in a press release that he was “very pleased” with the bond rating, “especially in this troubling economy.”
According to the statement, the Fairfield Board of Selectmen, treasurer and fiscal officer joined Phoenix Advisors, LLC and Pullman & Comley LLC “to participate in a note sale which resulted in the Town securing an unprecedented 0.191381 percent interest rate on its sale of $41,380,000 in bond anticipation notes.”
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The press release said that nearly $41.4 million in bonds were sold Thursday to finance town projects such as the renovation at , completion of and renovation of .
A summary of the debt obligation note and letter from S&P to Fairfield's fiscal officer, Paul Hiller, are attached.
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