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Moody’s Investors Services confirmed the City of New Rochelle’ bond rating at Aa2, insuring that the City can continue to take advantage of historically low financing rates for capital improvement projects at substantial savings to taxpayers. New Rochelle has maintained this rating since being upgraded to Aa2 from Aa3 in January 2017.
According to Moody’s, the sustained rating reflects the City’s sizable tax base, strong fiscal management, ample reserves and liquidity, and a manageable debt and pension burden.
“We are very pleased that our bond rating remains strong, which translates into tax dollar savings” said Finance Commissioner Mark Zulli. “This rating confirms the City’s commitment to fiscal responsibility.”
Moody’s Investors Services is one of the world’s leading providers of independent credit ratings, research, risk analysis and financial information to the investment community. Moody’s release can be reviewed at moodys.com.