Fresh off the heels of earning a coveted Aaa rating from Moody’s Rating Agency, the Town of Wilton has even more to celebrate—an exceptionally successful municipal bond sale.
On Monday, May 28, Wilton brought a list of capital projects totaling $9,175,000 to the bond market. The result: one of Connecticut’s lowest interest rate bids—just 3.4%. This competitive rate will significantly reduce long-term borrowing costs for important town projects.
For those less familiar with the process, municipal bonds are a tool local governments use to finance large-scale capital projects, such as building a new police station. These bonds are offered at public auction, where investors bid to purchase the debt. In these auctions, the lowest interest rate wins—meaning the municipality pays less in interest over time. The more favorable the town’s financial reputation, the more competitive the bids.
Wilton’s strong financial standing, backed by its Aaa credit rating, helped attract 13 bidders—well above the nine anticipated. While towns across the state received bids as high as 4%, Wilton secured an enviable 3.4%. For comparison, even another town with a AAA rating walked away with a final bid of 3.93%.
- A strong performance during the Town’s ratings call with Moody’s, a critical final step in the evaluation process
- Strategic investment by ASML, reinforcing Wilton’s reputation as a hub for innovation and growth
- The Town’s fiscal discipline, including a healthy fund balance, robust budgeting, and prudent debt management
- Full funding of long-term liabilities
- Strong community support, evidenced by positive votes on the annual town budget
- Low unemployment and consistently high real estate values
These elements combined to earn Wilton a standing ovation from the bond market. As First Selectwoman Lynne Vanderslice has said, “This is a moment to be proud of—not just for Town Hall, but for the entire Wilton community. It speaks volumes about the faith investors have in our town’s future.”
With lower borrowing costs and a growing reputation for financial strength, Wilton is well-positioned to continue building a vibrant, sustainable future.