MOODY'S AFFIRMS Aa1 RATING AND REMOVES POSITIVE OUTLOOK ON THE TOWN OF WINDSOR'S (CT) GOULT DEBT

Posted on: May 11, 2010, 4:34 pm

NEW YORK, May 11, 2010 -- Moody's Investors Service has affirmed the Aa1 rating and removed the positive outlook on the Town of Windsor's (CT) outstanding general obligation bonds. The rating action affects $36.5 million of outstanding rated general obligation unlimited tax-backed debt. The rating incorporates the town's healthy financial operations, above average socioeconomic profile, and low debt burden. The rating also reflects the expectation that the town's sizeable, $4.5 billion tax base, located in Hartford County, which has experienced slight declines in market values in fiscal 2009, could be vulnerable to further declines over the near-term as a result of the current economic environment and softening of real estate market. The removal of the positive outlook reflects the stabilization of the town's credit profile at levels more consistent with its current rating category...

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