Politics & Government
New Milford Touts Success Bond Purchases
A successful debt issuance has allowed New Milford to capture historically low borrowing rates.
Town of New Milford: The Town of New Milford had a very successful debt issuance with strong investor interest in its Bonds and Notes sale. Because the Town’s management team presented a strong case to Standard & Poor’s and with the above average bond rating of AA+ and SP-1+ on the Bond Anticipation Notes, the Town was allowed to capture historically low borrowing rates. The Town also capitalized on the low interest rate environment by refinancing previously issued bonds and saved over $279,000. Strategic debt planning by the Mayor Pete Bass and Director of Finance Greg Osipow will allow for the town’s debt service to remain relatively flat and still allow
important capital improvements to the town’s infrastructure, such as roads, parks, roofs and
bridges. Mayor Bass stated “Our much needed capital improvements can continue. These projects affect every resident in New Milford. Whether it is roads we all drive on, bridges we cross, and roofs that provide shelter, getting these projects done is long overdue.” “Our Town’s Strong Financial position allowed for us to maintain our AA+ rating.” I would like to thank our Financial Team, including our financial advisor Barry Bernabe, Finance Director Greg Osipow for their work in making this offering such a success”.