S&P Global Ratings assigned its 'AAA' rating and stable outlook to Branford, Conn.'s approximately $14.15 million series 2021 general obligation (GO) refunding bonds and affirmed its 'AAA' rating, with a stable outlook, on Branford's previously issued GO debt. Branford's full-faith-and-credit pledge, payable from the levy of an unlimited ad valorem tax on all taxable property within the town, secures the bonds. Officials intend to use series 2021 bond proceeds to refund certain maturities outstanding. We note the town is accelerating the payment of bonds outstanding, which underscores the town's financial flexibility and strength. Branford's forward-looking financial-management practices continue to lead to positive budgetary variances while making meaningful strides addressing capital needs and retirement liabilities. The affirmation reflects our view that
