Immediate Release Contact: David Chauvin
February 4, 2004 (516) 410-8832
Moody's Reaffirms Town's Strong Fiscal Outlook
ManhassetNY – North Hempstead Town Supervisor Jon Kaiman and Councilman Thomas Dwyer (D-Roslyn) announced today that the Wall Street bond rating agency Moody's reaffirmed the Town's strong fiscal outlook for 2004.
In a release issued late last week, Moody's announced that they are maintaining the bond rating of Aa3 for the Town, citing its ability, "to maintain a strong financial position through conservative budgeting, strong internal controls and revenue augmentation in line with expenditure growth."In addition, Moody's believes that, "the town's fiscal 2004 operating budget is conservative and will facilitate continued strong operating results."
"This endorsement from an independent Wall Street rating agency, demonstrates the continued benefits that come from a legacy of conservative budgeting," said Supervisor Kaiman.
"Not only does our bond rating mean lower interest costs to the Town, but this announcement is the seal of approval by an independent fiscal agency showing that North Hempstead has a solid economic foundation and a strong fiscal future," added Councilman Dwyer.