Moody’s assigns Aaa to Wilton
Moody’s Investors Service has assigned a Aaa rating to Wilton’s $15.8 million General Obligation Bonds, Issue of 2016, and has affirmed the Aaa rating on Wilton’s $65.9 million in outstanding general obligation debt.
The outlook is “stable,” a Moody’s report said. This “reflects the town’s trend of stable financial operations with satisfactory reserves that are bolstered by strong management, conservative budgeting, and adherence to formal policies.”
According to the report, $15 million will finance continued renovations of Miller-Driscoll School, while $800,000 will finance other municipal and school capital projects.
Moody’s lists the following factors that could lead to a downgrade in Wilton’s bond rating:
- Trend of operating deficits resulting in a material decline in reserve.
- Significant declines in the tax base, or deterioration of the demographic profile
- Material growth in debt burden.