New Rochelle: Moody’s Assigns Aa2 to City’s GOLT Bonds
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~ New Rochelle, NY - In a recent announcement, Moody's Investors Services has assigned an Aa2 bond rating for the City's estimated $44 million Public Improvement (Serial) Bonds. This rating ensures that the City will be able to secure competitive financing rates for capital improvement projects, resulting in savings for taxpayers. The City has maintained an Aa2 rating for the past seven years.

According to Moody's, the decision to assign this rating was based on the City's solid local economy, which has seen rapid growth due to significant development in the downtown area. Additionally, the stability of City operations was also a key factor in determining the rating.

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Acting City Manager Wilfredo Melendez expressed his satisfaction with retaining this strong credit rating, stating that it is a testament to their commitment to smart and sustainable growth as well as strategic financial planning and fiscal responsibility. He also noted that this rating will allow them to continue their ambitious Capital Plan and invest in critical infrastructure projects that will improve the quality of life for residents.

Moody's Investors Services is a leading provider of independent credit ratings, research, risk analysis and financial information for the investment community. The full release from Moody's can be found on their website at moodys.com.

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