Stratford Receives Ratings Upgrade From Moody’s

STRATFORD, CT — Moody's Ratings announced this week that it has upgraded Stratford's bond rating from A2 to A1.

Stratford Mayor David Chess said it's the first time since 2013 that the town has received a ratings upgrade from any ratings agency.

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Moody's also rated Stratford's outlook as stable.

In a news release, Moody's said the upgrade of Stratford's issuer rating to A1 is "driven by the town's multi-year financial improvement that has resulted in the town fund balance more than doubling since fiscal 2021 on both a general fund and governmental fund basis."

"While this improvement still leaves the town's cash and reserves well below the sector median, it is nonetheless notable progress," according to Moody's.

Moody's also said that the town has "enacted a number of budget changes for fiscal 2027 to drive stronger operating performance," according to the news release. "This includes a more conservative property tax collection assumption, no longer including special education grants or property sales in the town budget, and reducing costs at more than a dozen departments."

In a message to residents, Chess thanked the "Town Council, Chief Administrative Officer, and Finance team, and department heads for all their efforts during this budget season. Together, we are making progress on building a sound fiscal foundation for Stratford."

Read the full Moody's news release here.