Southwestern Conn. communities at risk of credit downgrade
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