WEST HAVEN, CT — S&P Global raised West Haven's long-term general obligation bond rating one step, from A- to A, on Tuesday, Sept. 29, Mayor Dorinda Borer's office announced the next day. The city said it may be the first A rating in West Haven's history. S&P kept the city's outlook at stable.
"Standard & Poor's just gave our city a vote of confidence," Borer said in the announcement. "Developers and investors take note: Our finances are stronger, our direction is clear and we're moving forward."
Why S&P Raised West Haven's Rating
S&P's report, as quoted by the city, credits better financial management. West Haven has tightened its internal controls and finished its audits on time, which the agency said should keep reserves steady through balanced budgets.
The agency also said the changes West Haven made while under state control appear to be lasting now that the city runs its own finances again. The state Municipal Accountability Review Board released West Haven from Tier IV oversight in May 2025.
In reviewing the city's 2026 general obligation bonds, S&P said several years of strong results had built up West Haven's reserves, even with a drawdown in fiscal 2025 and a tight budget climate driven largely by education costs.
Debt and Retiree Costs Still Weigh on West Haven
S&P called the city's debt manageable, with more borrowing ahead, but said it is high per resident once West Haven's obligations for retiree benefits other than pensions are counted. The agency expects those obligations to push the city's fixed costs higher.
It also pointed to continued economic development, which it said should keep growing the tax base.