January 27, 2009

City makes pitch to bond rating agencies

City leaders spent much of the day on the phone with ratings experts from the three major bond rating firms today.
If it went half as well as the officials think, Bristol should be fine.
The reports ought be out by Friday or perhaps Monday. It is expected they'll leave the city's bond rating intact, which would be pretty good given the dire budget situation in Hartford.
Both Comptroller Glenn Klocko and Mayor Art Ward said the ratings experts were impressed with the consistent, solid finances of the city, particularly given its demographics, which fall short of most communities with its bond rating.
Helping Bristol along were a long track record of hefty reserves, a fully funded pension plan, experienced managers and more, according to Klocko and Ward.
We'll see what the ratings folks have to say in a few days. Klocko said the reports they issue should give the Board of Finance something to feel good about.
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Copyright 2009. All rights reserved.
Contact Steve Collins at scollins@bristolpress.com

8 comments:

Anonymous said...

Kudos to conservative fiscal management. Contrary to what often state Bristol is financially in better shape than many communities.

Anonymous said...

I hope they didn't let Ward speak!

Anonymous said...

How does this years budget look?

Above and beyond snow removal?

Will we end up with a surplus?

Steve Collins said...

Not only did Ward speak, he is said to have done well.
Ward was in such a good mood afterward that he even talked in glowing terms about how well Jonathan Rosenthal did during his part of the presentation.

Anonymous said...

Both of them can BS with the best.

AnonymousWestconnStudent said...
This comment has been removed by the author.
no's are't yeses said...

rather than being negative, how about being supportive of something for a change?

Anonymous said...

HOw can I be supportive of something that is not right?

Maybe that is part of our problem: people have not spoken up enough!