Moody's Upgrades Paramus' Bond Rating To AAA

Moody’s has upgraded Paramus’ bond rating to AAA, the highest rating given out by the investors service.

Moody’s said the upgrade reflects the borough’s: “Strong financial operations with healthy reserve levels, sizeable tax base, conservative management practices, strong socioeconomic wealth levels, and low debt burden.”

“Above all else our job as elected officials is to make sure we manage taxpayers’ money well and this bond rating increase is a testament to our success,” Council President Pat Verile said in a statement.

Paramus homeowners saw, on average, a $20 decrease in their municipal taxes this year. It is the second consecutive year residents have seen their taxes decrease.