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Hamden News & Updates

Posted on: July 28, 2022

Fitch Removes Hamden’s Negative Outlook

Fitch Removes Hamden’s Negative Outlook

Hamden – Mayor Lauren Garrett is pleased to announce that credit rating agency Fitch has removed Hamden’s negative outlook.

Fitch’s press release notes: “The revision of the Rating Outlook to Stable reflects improvement toward a structurally balanced budget, management's efforts to increase the debt service budget in accordance with a long-term plan to avoid budget shocks and improve liquidity, and projected improvement in reserves levels.”

You can read the full press release here: https://www.fitchratings.com/research/us-public-finance/fitch-revises-hamden-ct-outlook-to-stable-affirms-idr-go-bonds-at-bbb-26-07-2022

Mayor Garrett commented, “The decision by Fitch, a credit rating agency, to move Hamden’s outlook from negative to stable is an important affirmation that we have turned the corner and are headed in the right direction. We have created a structurally balanced budget for the first time in many years and by creating a capital reserve account, we are reducing our need to borrow.”

For further information, please contact Deputy Chief of Staff, Alexa M. Panayotakis, at (203) 287-7100 or by email at apanayotakis@hamden.com.

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