Moody’s Investors Service said today it had assigned a triple-A (Aaa) rating and stable outlook to the Town of Westport’s planned $7.6 million General Obligation Bonds, Issue of 2019, Series A and $4.6 million General Obligation Refunding Bonds, Issue of 2019, Series B.
Moody’s said it maintains a triple-A rating on the town’s parity General Obligation debt outstanding and that the outlook is stable.
“The Aaa rating reflects the town’s sizable tax base with extremely high wealth and income indices, and a manageable debt position,” the rating service said.
“The rating further incorporates the town’s well-managed financial operations marked by sound reserve levels, a well-funded pension system, and proactive funding of the town’s post-retirement benefits liability.”
