Independent Wall Street bond rating agency Moody’s Investors Service has assigned an Aaa rating to the Town of North Hempstead’s estimated $17 million Public Improvement Serial Bonds.
Aaa is the highest rating provided by Moody’s, awarded to obligations that “are judged to be of the highest quality” and “subject to the lowest level of credit risk.”
“We work hard every day to maintain the highest levels of fiscal responsibility in North Hempstead,” Town Supervisor Jennifer DeSena said. “From this office right through to every department and every employee, we are all committed to that goal, so I thank the entire North Hempstead team for their dedication.”
Moody’s also maintained an Aaa rating on the town’s outstanding general obligation limited tax, otherwise known as GOLT, with a stable outlook.
Overall, this represents the 17th consecutive instance in which the town has maintained its Aaa bond rating with Moody’s since becoming an Aaa bond-rated municipality in March 2017.
“The stable outlook reflects the town’s strong reserves, conservative budget management and large and diverse tax base,” Moody’s stated.
