Goshen, N.Y. – Orange County Executive Steve Neuhaus announced today that Moody’s Investors Service, the financial services rating company, has kept the County’s bond rating at Aa2 (stable).
An Aa2 rating reflects the stabilization of the County’s reserves and a large tax base that continues to expand and a manageable debt burden.
“This rating from Moody’s is a third-party validation of all the hard work we have done to restore the fiscal health of the County,” Neuhaus said. “We will continue to be proactive in our efforts to grow the economy and make Orange County friendly for businesses to come here and to stay here while employing leading managerial practices in our daily governance.”
Moody’s noted that Orange County benefits from ongoing economic expansion and tourism. The County maintains sufficient reserves and liquidity and has manageable long-term unfunded liabilities. The County’s credit strengths include an expanding tax base and a sound financial position.
Orange County’s stable outlook reflects the expectations that reserves will remain sound over the next two years.
For more information, contact Justin Rodriguez, Assistant to the County Executive for Communications and Media Relations at 845.291.3255 or email@example.com.