Moody’s has just assigned a positive outlook to New Rochelle’s bond rating, another indicator that the City’s fiscal position is improving as we emerge from the long shadow of the recession. In fact, New Rochelle now has its best bond rating in at least 80 years!
Moody’s specifically cites: “the city’s large tax base and above-average wealth levels. The rating also takes into account the city’s adequate reserve position and low debt burden.”
Moody’s further notes that “the positive outlook reflects the city’s recent transition from deficits to surpluses and the expectation that this trend will continue.”