North Hempstead Assigned Rating From Moody’s Investors Services


North Hempstead Town Supervisor Judi Bosworth and the Town Board announced today that the independent Wall Street bond rating agency Moody’s Investors Service has assigned a Aaa rating to the Town’s $12.9 million Public Improvement Serial Bonds (2021 Series A). This is the highest rating provided by Moody’s.

Moody’s also maintained a Aaa rating on the Town’s outstanding general obligation limited tax (GOLT), with a stable outlook. This represents the 10th consecutive instance in which the town has maintained its Aaa bond rating with Moody’s since becoming a Aaa bond rated municipality in March of 2017.

“The stable outlook reflects the town’s conservative fiscal management practices, which will support continued healthy operating performance and maintenance of a strong financial position,” Moody’s stated.

“We appreciate Moody’s once again recognizing the town’s hard work in maintaining a fiscally conservative budget, while still ensuring outstanding services for residents,” Bosworth said. “Ultimately, this will result in benefits and savings for our taxpayers.”

Moody’s also cited:
• The Aaa issuer rating reflects a healthy financial position
• Despite some coronavirus related revenue losses, reserves are not likely to be materially impacted given the town’s conservative budging
• Management continues to estimate that all major funds will end the year with balanced, if not surplus, operations

—Submitted by the Town of North Hempstead

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