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
