S&P Global Ratings assigned its 'AAA' rating to the Town of Branford, Conn.'s $18 million series 2024 general obligation (GO) bonds, based on the application of its "Methodology For Rating U.S. Governments," published Sept. 9, 2024. At the same time, we affirmed our 'AAA' long-term rating on the town's previously issued debt. The outlook is stable. Branford's full-faith-and-credit pledge secures the series 2024 GO bonds and debt outstanding. Series 2024 proceeds will finance three ongoing projects around the town involving a police headquarters renovation, field improvement, and constructing fleet fueling station. Branford's available reserves at nearly 40% of general fund revenue – significantly higher than similarly rated state peers – along with an active financial management team focused on incorporating
