Simsbury Retains Aaa Rating from Moody’s for Bond Sale

Moody’s Investors Service has reaffirmed the Town of Simsbury’s Aaa bond rating – Moody’s highest rating.

Moody’s highest long-term rating reflects the Town’s affluent and moderately-sized tax base, which is favorably located outside of the state capital. The Aaa rating further factors the town’s professional management team, which has maintained historically stable financial operations and healthy reserve levels which are supported by a formal policy. Further, the rating incorporates modest long-term liabilities for debt service, pension, and OPEB. 

“I’m pleased but not surprised. This is the result of a long-standing commitment to responsible fiscal management,” said First Selectman Lisa Heavner. “We understand that the money we spend comes from our residents’ pockets and work very hard to get it right.”

“I am pleased that the town was able to maintain the AAA bond rating,” said Board of Finance Chairman Peter Askham. “This rating validates the town’s policies of debt management, reserves, pension and OPEB funding. The town has been and will always be committed to sound conservative fiscal management.”