Manchester Maintains Solid Bond Rating

MANCHESTER, CT — Manchester General Manager Scott Shanley said Thursday that the town has maintained its AAA bond classification from Fitch Ratings.

An AAA bond rating represents the highest possible given by Fitch, he said.

A solid bond rating puts Manchester in a better position to borrow money with access to lower interest rates. For example, a $15 million bond sale related to Manchester in February garnered a 1.868 percent interest rate, Shanley said.

According to Fitch, Manchester’s AAA rating reflects:

• Strong fiscal management
• A stable financial position
• A vibrant economy, with access to a broad and diverse metropolitan statistical area

Shanley said the rating also takes into account Manchester’s "conservatively managed debt profile" and its "planning efforts with respect to its pension obligations."