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Simsbury locks $45 million in short-term CDs, S&P reaffirms AAA ahead of bond sale
Summary
Finance Director Amy told the Board of Finance the town invested about $45 million across 3-, 6- and 9‑month certificates of deposit at roughly 4% and will proceed with a bond sale after S&P reaffirmed a AAA rating.
Simsbury's finance director reported the town invested about $45 million in short-term certificates of deposit and that Standard & Poor's reaffirmed the town's triple‑A credit rating before a scheduled bond sale.
Finance Director Amy told the Board of Finance on Sept. 16 that the town purchased three CDs with staggered maturities to capture current yields: a 3‑month CD at 4.29 percent, a 6‑month at 4.07 percent and a 9‑month at 3.83 percent. "We were able to invest about $45,000,000 in the CDs," she said.
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