Trumbull Bond Rating Reaffirmed

Fitch Ratings and Standard and Poor’s Rating Services reaffirmed Trumbull’s AA+ bond rating.

The organizations cited Trumbull’s pension reform and strong financial management as reasons for keeping the bond rating.

“We consider Trumbull’s economy very strong,” stated Standard and Poor’s Rating services. “Trumbull specifically has seen a recent uptick in economic development, and we note building permit activity has improved since the Great Recession.” Standard and Poor’s also went on to note that they viewed “the town’s management as strong, with “good” financial policies and practices.”

First Selectman Tim Herbst said his goal is to get Trumbull to the best possible rating of AAA.

“As I tell people, when assessing the financial strength of a community, don’t listen to the politicians, listen to the professionals,” he said. “The professionals agree that our approach to conservative budgeting, a stable tax rate and pension reform is leading to robust economic development that is consistently growing our economy each and every year. It is for all of these reasons that we are well on our way to earning a AAA.”