Fitch Ratings is affirming the town of Colchester‘s $9.9 million in outstanding debt with a “AA-‘’ rating.
Fitch said the rating outlook for Colchester is stable.
The New York credit- and debt-rating service said factors in the town’s favor are its proximity to employment centers Hartford, Groton and Ledyard, and its strong tax base growth, affordable housing levels and solid school system.
Fitch also noted Colchester’s minimal need to borrow for major projects.
Reader response:
“Congratulations for that good rating. It makes me happy to see a good rating like that because I feel like it bodes well for the economy. The factors you mentioned surely helped boost the rating so I hope other companies will take note of those so they can duplicate this success.” — Evelyn Guzman
