By Lindsay Press
Moody’s Investor Services recently gave the Town of North Hempstead an Aaa rating to the town’s estimated $17 million Public Improvement Serial Bonds. The Aaa rating is the highest that Moody’s offers and is awarded to those that “are judged to be of the highest quality” and “subject to the lowest level of credit risk.”
North Hempstead’s extraordinary general obligation limited tax (GOLT) also received an Aaa rating. This is the seventeenth consecutive time since March 2017 that North Hempstead has received an Aaa bond rating with Moody’s.
“The stable outlook reflects the town’s strong reserves, conservative budget management and large and diverse tax base,” Moody’s said in an official press release.
“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.”