POUGHKEEPSIE – Standard
& Poor’s Rating Service has reaffirmed Dutchess County Government’s
AA+ bond rating. There is only one county statewide with a higher S&P
bond rating.
The agency cited several strengths – very strong economy, strong
management, strong budgetary performances, very strong budgetary flexibility,
very strong liquidity, and very strong debt and contingent liability position.
County Executive Marcus Molinaro credited the high bond rating to the
county’s “conservative fiscal management and focus on smaller,
smarter, more effective government.” He said Standard & Poor’s
continues to “endorse our financial management and notes we are
poised for an upgraded outlook if we continue to build on our success.”
County Legislator Don Sagliano, vice chairman of the Budget, Finance and
Personnel Committee, said the rating “demonstrates our conservative
fiscal stewardship and pays dividends for our taxpayers as the high rating
drives down the cost of borrowing for important projects such as infrastructure
repairs for our roads, bridges and facilities.”
The county is preparing to issue new bonds to fund a number of capital
improvement projects including property renovations at the county Mental
Health campus at 230 North Road in Poughkeepsie.
