FOR IMMEDIATE RELEASE: March 14, 2019
MEDIA CONTACTS: Carole Trottere, Rebecca Cheng, Vicki DiStefano and Matt Leonenko | (516) 869-7794
Moody's Continues North Hempstead’s Aaa Rating
Cites Town’s ‘conservative fiscal management practices’
North Hempstead, NY – North Hempstead Town Supervisor Judi Bosworth announced today that for the fourth year in a row the independent Wall Street bond rating agency Moody's Investors Service has maintained the Town’s Aaa rating, with a stable outlook. This is Moody’s top rating and the highest rating a municipality can attain. The bond rating agency assigned the Aaa rating to the Town’s $19.3 million Public Improvement Serial Bonds – 2019 Series A. The bonds will provide new money financing for various capital projects throughout the town.
Moody’s currently maintains a Aaa issuer rating and a Aaa general obligation limited tax (GOLT) rating.
Moody’s stated: “The stable outlook reflects the Town’s conservative fiscal management practices, which will support healthy operating performance and maintenance of a strong financial position.”
“I am extremely pleased to see the Town’s fiscally conservative practices and management of the Town’s budget be recognized, once again, by Moody’s Investors Service with a Aaa rating,” said Supervisor Bosworth. “The Town’s Aaa rating will continue to translate into savings for our hard-working taxpayers.”
“This fourth consecutive affirmation of our Aaa rating by Moody’s reflects the hard work by this administration and its finance team to keep the Town on a solid financial footing,” said Town Comptroller Tania Orenstein.