Summary : Stamford received bids from eleven underwriting firms submitting a total of 32 bids, with Citigroup submitting seven individual bids, the city said in a news release. The winning bid had a True Interest Cost (TIC) of 3.18 percent from investment bank and financial services company Raymond James. “The city’s annual debt service is not projected to increase from current levels due to the aggressive amortization of existing debt service.” Earlier this month, Stamford’s AAA bond rating was reaffirmed by credit rating agencies Fitch and Standard & Poor’s (S&P).
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