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, that being Westchester.
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 on North Road in Poughkeepsie.
