Mayor Bill Finch announced on Tuesday the New York credit rating agency Standard & Poors has confirmed a stable outlook for city finances maintaining an ‘A’ credit rating for the state’s most populous city. See summary report here.
News release from the mayor:
“This healthy credit rating is further proof that Bridgeport is on the right track, with a disciplined approach to economic development and green job creation,” said Bridgeport Mayor Bill Finch. “Our increasingly stable financial situation positions us to obtain low, long-term interest rates, which in turn help us continue making smart investments aimed at moving Bridgeport toward a stronger future.”
In its report, Standard & Poor’s noted the positive impact of the city’s strong management practices, good financial policies, and an experienced and capable management team. The agency also pointed out that the city has strong liquidity.
“This independent review confirms that under Mayor Finch’s leadership, the City of Bridgeport remains on solid footing, with a responsible financial plan that allows us to invest in economic development, jobs, and better schools,” said Anne Kelly-Lenz, Finance Director for the City of Bridgeport.