Saturday, September 30, 2017

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Moody’s confirms New Rochelle’s bond rating

NEW ROCHELLE – Moody’s Investors Services has confirmed the City of New Rochelle’s bond rating at Aa2, insuring the city can continue to take advantage of low financing rates. The city was upgraded from Aa3 in January.

City officials said with New Rochelle’s 10-year capital improvement plan underway, the city will benefit from lower interest costs at substantial savings to taxpayers.

According to Moody’s, the sustained rating reflects the city’s multi-year trend of operational surpluses and healthy financial position, along with maintenance of a stable tax base and moderate pension costs and debt burden.

“We are gratified that our bond rating remains strong,” said city Finance Commissioner Tracy Yogman. “This will translate to further savings in the years ahead.”


 

 

 


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