Summary: West Hartford, Connecticut; General Obligation

S&P Global Ratings assigned its 'AAA' long-term rating and stable outlook to the Town of West Hartford, Conn.'s series 2017A general obligation (GO) bonds. At the same time, S&P Global Ratings affirmed its 'AAA' rating on the town's GO debt outstanding. The outlook is stable. A pledge of the town's full faith and credit secures the bonds. We understand West Hartford will use bond proceeds for road improvements, upgrades to town buildings, and a radio system replacement, among other capital projects. West Hartford's GO bonds are eligible to be rated above the sovereign because we believe the town can maintain better credit characteristics than the U.S. in a stress scenario. Under our criteria "Ratings Above The Sovereign: Corporate And Government

...S&P Global Ratings assigned its '###' long-term rating and stable outlook to the Town of West Hartford, Conn.'s series 2017A general obligation (GO) bonds. At the same time, S&P Global Ratings affirmed its '###' rating on the town's GO debt outstanding. The outlook is stable. A pledge of the town's full faith and credit secures the bonds. We understand West Hartford will use bond proceeds for road improvements, upgrades to town buildings, and a radio system replacement, among other capital projects. West Hartford's GO bonds are eligible to be rated above the sovereign because we believe the town can maintain better credit characteristics than the U.S. in a stress scenario. Under our criteria "Ratings Above The Sovereign: Corporate And Government Ratings--Methodology And Assumptions" (published Nov. 19, 2013, on RatingsDirect), the town has a predominately locally derived revenue source, with 89% of general fund revenue derived from property taxes with independent taxing authority and independent...

Summary