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Danbury Today
By the People, for the People
Danbury Completes $200M Bond Sale After Positive Rating
City's AA+ bond rating reaffirmed by Fitch and S&P amid strong investor demand.
Published on Feb. 18, 2026
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The city of Danbury, Connecticut has completed the sale of nearly $200 million in general obligation bonds and notes following the reaffirmation of its AA+ bond rating by Fitch Ratings and S&P Global Ratings. The notes were purchased by J.P. Morgan Securities LLC with a net interest cost of 2.204%, while the bonds were purchased by Fifth Third Securities with a true interest cost of 3.204%. City officials say the sales were completed at interest rates below recent comparable municipal market levels.
Why it matters
Danbury's successful bond sale and reaffirmed AA+ rating demonstrate the city's strong financial management and stability, which will allow it to fund important capital projects like school upgrades, infrastructure improvements, and water and sewer system enhancements. This positive financial standing helps position Danbury for continued growth and development.
The details
The city sold $60,130,000 in general obligation bonds and $139,605,000 in notes. Several projects have been approved for state reimbursement, including Danbury High School-West, which will be reimbursed at 80%. City officials say the sales reflect continued investor confidence in Danbury's financial management and long-term stability.
- The bond and note sale was completed on February 17, 2026.
- Fitch Ratings and S&P Global Ratings reaffirmed Danbury's AA+ bond rating prior to the sale.
The players
Roberto Alves
The mayor of Danbury, Connecticut.
Matt Spoerndle
The senior managing director at Phoenix Advisors and Danbury's financial consultant since 2000.
What they’re saying
“This is a win for Danbury. Not only have we maintained our strong financial position, but we've also continued to see strong results in our bond and note sales. This reflects the hard work of our finance team, who have helped stabilize our financial operations, put our audits back on track, and continue to position the City for success.”
— Roberto Alves, Mayor of Danbury (Patch.com)
“The results from this week's sale send a clear message that Danbury's financial position is strong. In the past two years, the Rating Agencies and Wall Street investment banks have affirmed their confidence in the City's leadership, financial management, and the responsible trajectory it's on.”
— Matt Spoerndle, Senior Managing Director, Phoenix Advisors (Patch.com)
What’s next
The proceeds from the bond and note sale will be used to fund capital projects including school facility upgrades, infrastructure improvements, and water and sewer system enhancements.
The takeaway
Danbury's successful bond sale and reaffirmed AA+ credit rating demonstrate the city's strong financial management and stability, which will allow it to make important investments in its infrastructure and community. This positive financial standing positions Danbury for continued growth and development.
