Friday, January 18, 2019

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Moody’s upgrades Orange County’s bond rating

Moody’s credited the upgrade to the rebuilding of the county’s fund balance by County Executive Steven Neuhaus and the county legislature.

“We have stabilized county finances, settled union contracts, and worked hard with the private sector to grow the economy,” said Neuhaus. “This news is very promising, but we must be extremely proactive in continuing our efforts to grow the economy and make Orange County friendly for businesses to come here and to stay here. We must continue to employ leading managerial practices in our daily governance.”

County Finance Commissioner Karin Hablow called the bond upgrade “a third-party validation of all the hard work we have done under County Executive Neuhaus’ administration to restore the fiscal health of the county.”

Orange County Chamber of Commerce President Lynn Allen Cione , pointing to “innovative and respected companies here already, and more are interested in setting up shop in Orange County, said “a credit rating increase reinforces that the county is being managed well and will continue to flourish.”

 


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