New Rochelle Keeps Aa2 Bond Rating From Moody's

NEW ROCHELLE, NY — New Rochelle officials announced Monday that Moody’s Investors Services has confirmed the city's bond rating at Aa2. New Rochelle has maintained this rating since being upgraded to Aa2 from Aa3 in January 2017.

According to Moody’s, the sustained rating reflects the City’s sizable tax base, strong fiscal management, ample reserves and liquidity, and a manageable debt and pension burden. Aa ratings mean that a municipality's bonds are high quality, and are subject to very low credit risk.

The rating means the city can can borrow money at low rates — and right now rates are historically low — for capital improvement projects, which saves taxpayers money.

"We are very pleased that our bond rating remains strong, which translates into tax dollar
savings," said Finance Commissioner Mark Zulli in the announcement. "This rating confirms the City’s commitment to fiscal responsibility."

City officials won an award last week for financial reporting. New Rochelle Awarded For Excellence In Financial Reporting