S&P affirms Dutchess County’s bond rating

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POUGHKEEPSIE – Standard and Poors Rating Services reaffirmed Dutchess County Government’s AA+ bond rating, which means the county will save an estimated $797,000 in interest as it prepares to refinance bonds originally issued in 2004 and 2006.
County Executive Marcus Molinaro said S&P has “again endorsed
our conservative practices” to reverse the financial slide when
he took office in 2012.
“We have replenished the county’s fund balance,” Molinaro noted. “We have provided the largest property tax decrease in 14 years and we have appropriately managed taxpayer resources, and with that, the bond rating sends an important signal to employers both in the county and outside the county that we are stable, that we have a very strong fiscal condition, that we are responsible with taxpayer funds and that we are a community that is sound and responsible.”
County Comptroller James Coughlan said the AA+ bond rating “reflects the positive outlook for the county finances.”
“Dutchess County Government has become well known for sound financial management and conservative budgeting practices, which makes our bonds very desirable in the investment community,” said County Finance Commissioner Heidi Seelbach.