Danbury Officials Unveil Good Fiscal News For City

City of Danbury

DANBURY, CT — City officials on Wednesday unveiled some decent financial news as far as Danbury's borrowing power is concerned.

Credit rating agencies S&P Global Ratings and Fitch Ratings reaffirmed the City of Danbury’s AA+ bond rating ahead of an upcoming general obligation bond issuance, according to Danbury Mayor Roberto L. Alves.

City officials said the rating reflects Danbury’s stable financial outlook and overall credit quality, factors that help keep borrowing costs lower for taxpayers.

“A strong bond rating isn’t just a financial measure; it directly impacts what we’re able to deliver for our residents,” Alves said. “This allows us to continue improving our infrastructure and supporting services across the city while keeping the cost of borrowing as low as possible for our taxpayers.”

The city’s upcoming bond sale is expected to fund capital projects, including school upgrades, public infrastructure improvements, and water and sewer system upgrades.

According to the city, the AA+ ratings from S&P and Fitch indicate the agencies expect Danbury’s financial and economic conditions to remain stable in the near term.

The mayor’s office said the city has made progress addressing internal financial operations after several years of delayed audits.

During Alves’s first term, Danbury completed three previously delayed audits and is continuing work on the fiscal year 2025 audit.

Officials said investments have been made in the city’s finance department and within the Danbury Board of Education to strengthen financial oversight and ensure compliance with audit requirements.

Alves said the reaffirmed ratings reflect consistent financial management and economic activity across the city.

“Danbury’s ability to maintain strong ratings reflects steady financial management, economic activity across the City, and ongoing efforts to responsibly plan for both current and future needs,” he said.