Tolland's Bond Rating Gets a Boost from Fitch

TOLLAND, CT — The town's bond rating has been upgraded.

Town officials on Wednesday said that Fitch Ratings has upgraded the town's bond classification from AA+ to the highest rating of AAA, town officials said.

The bond rating is instrumental in the town's ability to borrow money and can influence the interest rate when the bonds are being paid off.

Standard and Poor’s several years ago had similarly upgraded Tolland’s rating, town official said.

Fitch states that the upgrade "reflects the Towns low long-term liability burden and exceptional financial operations … and solid expenditure flexibility which positions it to withstand the challenges associated with a moderate economic downturn."

Town Manager Steven Werbner said, "I am proud of our management team, which, over the years, has put in place proper financial procedures to ensure strong fiscal performance. The upgrade will hopefully be reflected in lower interest rates for future borrowing of the Town."