Huntington – Supervisor Ed Smyth announced the Town of Huntington renewed its AAA bond rating from Moody’s Investors Services for two consecutive years post-pandemic in a report issued on July 7.
“Huntington has long maintained its AAA bond rating; conservative budgeting practices combined with shrewd planning prepared us for the global pandemic, which earned the Town this second post-pandemic AAA rating,” said Supervisor Ed Smyth. “We appreciate Moody’s for their astute analysis and continued recognition of the Town’s meticulous fiscal practices that will continue to reduce the burden on the taxpayer while providing cost-effective services.”
Moody’s cited the Town’s “conservative fiscal management practices, which will support continued healthy operating performance and maintenance of a strong financial position” in its rating outlook for the AAA rating.
“The town's favorable location and continued commercial and industrial development bode well for modest growth projections going forward,” Moody's Investors Services stated in its report maintaining the Town of Huntington’s AAA bond rating. “The town's downtown Huntington Station revitalization project is also progressing...the renovations over the past six years have increased tax revenue to $347,000 from $11,500.”
Moody’s Investors Services has recently made changes to its rating methodologies across various private and public sectors; they advised the Town they will likely be using a new methodology for future bond ratings.
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