Huntington
– Supervisor Chad A. Lupinacci announced the Town of Huntington has
maintained its AAA bond rating from both Standard & Poor’s
and Moody’s Investors Services.
“Huntington
is one of the few towns rated AAA-stable by both agencies,” said
Supervisor Lupinacci. “I thank Moody’s and Standard and Poor’s
for their analysis and recognition of Huntington’s fiscal practices, as
this is an achievement that will help us provide services in a
cost-effective manner.”
Standard
& Poor’s and Moody’s Investors Services maintained the Town of
Huntington’s AAA bond rating in reports issued on September 21, 2018.
"The
stable outlook reflects S&P Global Ratings' opinion of Huntington's
very strong economy," the S&P Global Ratings' report stated, citing
their reasoning as to why they expect to maintain Huntington's AAA
rating for the next two years: "We believe strong management practices
and policies underpin Huntington's commitment to maintaining structural
balance and strong available reserves, providing
additional stability."
Moody's
Investors Service issued Huntington's AAA-rating, citing the Town's
"improved financial position," stating the "town's debt burden
remains below the median for similarly rated credits," and "the town
maintains a low pension liability." The report issued a stable outlook
for Huntington due to its "expectation of continued economic stability"
and "projected financial stability given the
town's intent to maintain reserves at current levels."
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