PAWLING – Standard & Poors (S&P), a benchmark for credit ratings, has upgraded the town’s bond rating to AA+, the second-highest rating available. The recent S&P report is the first issued for the town in 11 years and indicates that the town has a high rating and a very low credit risk.
S&P cited “a strong local economy, strong fund balance, and established policies and procedures” as significant milestones for the town, which previously had an Aa3 rating in 2012 from Moody’s Investor Service.
“The Town of Pawling has come a long way,” stated Town Supervisor James Schmitt. “Our town is honored to have one of the highest bond ratings available and that is thanks to our strong processes and procedures, and the management team we have built here. We have revitalized our parks, improved our infrastructure, and strengthened our finances; all to best serve our residents.”
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