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Greenwich Retains Highest Rating From Moody's

Tesei discusses "Aaa" from investor service

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Greenwich, CT | Added on January 21, 2015 At 10:09 PM

Moody's Investor Services has given the Town of Greenwich the highest possible rating for investors. The Aaa rating came after Moody's looked at factors such as the Town's tax base and property values, among other things. 

"They also look at the management of how we expend our resources, and how we handle caring for our community-the physical infrastructure, and the financial," said First Selectman Peter Tesei. 

The rating is like a checkup at the doctor's office- it determines the overall health of the community. 

"We maintain our fund balance because we don't spend everything that's budgeted in a year, and that's through careful review and planning," said Tesei. 

The Aaa rating allows the Town to borrow money at a lower interest rate, which in turn helps residents. 

"We've seen new police, fire, civic center, schools," said Tesei. 

The First Selectman says that he is pleased with the rating, but will continuing working to improve the Town. 

"While we have a very enviable position, it's not something we can just sit back and take for granted. We have to strive to maintain it and address challenges that do confront us, both external and internal," said Tesei. 

Other local towns and cities received Aaa ratings, such as Norwalk. Stamford is one step below (but still rated very well) with a Aa rating.


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