NEW ROCHELLE – Moody’s Investors Service has confirmed the City of New Rochelle’s Aa2 bond rating, ensuring that the city can continue to take advantage of historically low financing rates for capital improvement projects at substantial savings to taxpayers.
The city has maintained this rating since being upgraded from Aa3 in January 2017.
According to Moody’s, the sustained rating reflects the city’s stable financial operations with healthy reserve levels, large sized tax base, average wealth levels for the region, and manageable debt burden.
City Manager Charles Strome, III said the strong rating is result of “the sound budgeting practices endorsed by the mayor and city council, and the ongoing commitment of each department head and their staff to fiscal responsibility.”
