Standard & Poor’s Ratings Services has upgraded the city’s bond rating to AA-, signaling that Hartford has a more stable outlook and strong capacity to meet financial commitments.
The city previously had an A rating. Officials said this year’s upgrade was the largest since 2003.
“We consider Hartford’s economy to be adequate with participation in the broad and diverse Hartford-West Hartford-East Hartford [metropolitan area]. We also believe the city benefits from a stabilizing institution given its role as the state capital,” S&P’s report says.
“We view the city’s management conditions as very strong, with strong financial practices.”
The upgrade will allow the city to borrow money at lower interest rates, officials said.
You can read S&P’s report here: S&P Report