Southwestern Conn. communities at risk of credit downgrade

NORWALK - As lawmakers in Washington, D.C. finally come to an agreement over raising the debt ceiling and likely avoiding a credit downgrade from a AAA credit rating, local officials are worried that their communities could come under the specter of a credit downgrade.

Norwalk currently holds a AAA credit rating, but because of what is going on in Washington, they are at risk of a possible downgrade.

A downgrade would mean that Norwalk would likely have to pay a higher interest rate on borrowed money.

Officials say it isn't something that they did to put the rating at risk and that their communities shouldn?t be punished for actions that happened hundreds of miles away.

Other communities at risk of a downgrade include Darien, Easton, Fairfield, Greenwich, New Canaan, Ridgefield, Westport, Weston, Wilton, and Woodbridge.

Obama signs legislation to avert default

advertisement | advertise on News 12

Trending Video

Max Antoine, 33, was shot and killed early 1 Family urges Stamford man's killer to surrender to police
State and local leaders kicked off a city-wide 2 Bridgeport kicks off anti-litter campaign
One person has been pronounced dead after an 3 Police: 1 person killed in Bridgeport shooting
Police say a man and woman from New 4 Police: Couple steals $30K in supplies from Home Depot
VIDEO: Bridgeport murder surveillance 5 VIDEO: Bridgeport murder surveillance

advertisement | advertise on News 12

Features

Focus on Connecticut Focus on Connecticut

Features local, state and federal officials discussing the issues around southwestern Connecticut.

Celebrates African-American culture in southwestern Connecticut. Our Lives

Celebrates African-American culture in southwestern Connecticut.

Each week News 12 Connecticut introduces you to Hometown Hero

News 12 highlights people who give to the community.

We spotlight a local team each week. Connecticut Team of the Week

Each week News 12 Connecticut highlights a team from a local school.

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE