EASTCHESTER, N.Y. – Moody’s Investors Services has upgraded the bond credit rating in Eastchester, to the highest ranking the organization offers.
With town officials exercising fiscal responsibility within the budget in recent years, Moody’s raised the town’s bond rating from Aa1 to Aaa, citing the “conservative nature of the management team that has built up ample reserves and financial flexibility.”
The upgrade to Aaa also “factors a moderately sized tax base with high wealth levels and a low debt burden.” According to the report, a significant reduction in reserves or an increase in the debt burden could force the rating to go down.
In a statement, Eastchester Town Supervisor Anthony Colavita noted that “we have been able to keep Eastchester affordable while preserving a high level of services, despite unfunded state mandates.”
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