Moody's Investors Service Evaluates Town of North Hempstead

Moody's Investors Service recently released a fiscal evaluation of North Hempstead and reaffirmed the Town’s strong fiscal outlook for 2016.

The independent Wall Street bond rating agency gave the Town a “positive” outlook and an Aa1 rating. This is the fifth consecutive Aa1 bond rating in two years, the Town says.

“This endorsement, for the third consecutive year from Moody’s, reflects the hard work by this administration to keep the Town on a solid financial footing,” Town Supervisor Judi Bosworth said in a press release. “This bond rating enables us to keep low interest on our debt, lowering costs for taxpayers.”

The Town says it's Aa1 rating will positively affect its $67.3 million Public Improvement Serial Bonds, 2016 series B and C.

Moody’s commented on the Town’s outlook rating: “The positive outlook reflects our expectation that the town will maintain reserve levels and balanced operations going forward, as it works to decrease debt. The outlook also reflects the Town’s conservative fiscal management practices, which support healthy operating performance and maintenance of a strong financial position...”

Image of Bosworth via TONH