News Flash

Middletown News

Posted on: March 20, 2019

Middletown Awarded AAA Bond Rating

Standard and Poors Logo

I am pleased and proud to inform you that, for the fourth year in a row, Middletown has been awarded a AAA bond rating – the highest a city can achieve – by Standard & Poors. In the past seven years the city been upgraded from AA to AA+ to AAA. This rating indicates a strong economy and stable finances.

In its report, S&P stated that Middletown has:

  • “Very strong economy”
  • “Strong management”
  • “Strong budgetary performance”
  • “Very strong budgetary flexibility”
  • “Very strong liquidity Very strong debt and contingent liability position”
  • “We consider Middletown's economy very strong. “
  • “Overall, the city's market value grew by 3.7% over the past year to $4.9 billion in 2019”
  • “Property values in the city are rising”
  • “Middletown's budgetary performance is strong in our opinion”
  • “Middletown's budgetary flexibility is very strong, in our view, with an available fund balance in fiscal 2018 of 20% of operating expenditures”

Thank you.

Mayor Daniel T. Drew

City of Middletown

245 deKoven Drive

Middletown, CT 06457

(860) 638-4801

mayor@middletownct.gov

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