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Moody's Reaffirms North Hempstead’s Strong Fiscal Outlook

September 22, 2014
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Moody's Reaffirms North Hempstead’s Strong Fiscal Outlook
Town Maintains Highest Bond Rating in its History

North Hempstead, NY – North Hempstead Town Supervisor Judi Bosworth announced today that the independent Wall Street bond rating agency Moody's reaffirmed the Town's strong fiscal outlook for 2014 by retaining the Town’s Aa1 rating, which continues to be the highest bond rating in the Town’s history. This is the second time this year that this rating has been reaffirmed.

In a release by Moody’s issued on Friday, the bond rating agency said the Town’s strengths include: “Strong fiscal management marked by conservative budgeting and maintenance of solid reserve levels.” In addition, Moody's expectations are that the Town’s "conservative fiscal management practices will support healthy operating performance.”

Moody’s also commented on the Town’s financial future and said, “The town’s 10-year debt management plan is expected to further reduce the debt burden.”

“This endorsement from Moody’s reflects the hard work by this administration to keep the Town on a solid financial footing,” said Town Supervisor Bosworth. “This bond rating enables us to keep low interest on our debt, lowering costs for taxpayers.”

In addition, Moody stated that operations at the Town’s Solid Waste Management Authority (SWMA) have significantly improved.

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