Politics & Government
Moody's Maintains New Rochelle's Bond Rating
The city manager said this was evidence of the New Rochelle's sound financial management.
NEW ROCHELLE, NY — Moody’s Investors Services has confirmed the existing rating of Aa2 to the city’s upcoming $8.6 million bond issue. This designation maintains the credit worthiness of the city’s debt and means that the city will enjoy lower interest costs on general obligation bonds that may be issued in the future, according to a city spokeswoman
City Manager Charles Strome said it was good news for the taxpayers of New Rochelle and evidence of the city’s sound financial management.
"We will continue working to strengthen our local economy and tax base, even as we seek efficiency in local government,” he said.
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In confirming the Aa2 rating, Moody’s noted the city’s stable financial operations, healthy reserve levels, sizable tax base, average wealth indices and manageable burden.
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Photo credit: Michael Woyton/Patch Staff.
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