Friday
December 1, 2017


 

 

 

Westchester’s credit ratings affirmed by three agencies

WHITE PLAINS – Three rating agencies have independently affirmed Westchester County’s strong credit rating with Fitch Ratings and S&P maintaining the “AA” ratings and Moody’s maintaining an Aa1.

“Three independent groups have looked at the county’s finances and have re-affirmed that we are on solid fiscal footing because of our responsible fiscal management,” said County Executive Robert Astorino. “Westchester County remains the highest rated county in New York State for good reason, and that enables us to save money for taxpayers.”

He said the high bond ratings allow taxpayers to save millions of dollars a year in interest costs associated with borrowing along with refinancing bonds.

Astorino said while all three agencies noted the challenges faced by the county, such as uncertain sales tax revenue and high pension expenses, they each praised the county’s careful management of its finances.

This is Astorino’s last month in office as county executive. The Republican exec lost to Democrat challenger George Latimer in the general election.


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