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Wappinger Town Receives an Increased Bond Rating and Renewed “Strong” Fiscal Outlook from Standard & Poors

During the Monday, September 27, 2021 Regular Meeting of the Wappinger Town Board, Supervisor Richard L. Thurston was proud to announce that one of the world’s leading credit-rating agencies, Standard & Poors, released a report citing an improved, and as well as affirmed, strong credit rating of the Town of Wappinger. In the September 24, 2021 report, analysts from S&P awarded the Town with a AA+ rating in reference to the Town’s general obligation bonds. At the same time, they affirmed the Town’s AA+ rating on the Town’s debt service.

 

Standard & Poor’s Global Ratings went on to complement the state of Wappinger’s “very strong economy”, “very strong management”, “very strong budgetary flexibility”, “very strong liquidity”, “weak debt”, “strong institutional framework”, and “adequate budgetary performance” has allowed the Town government to continue to offer increased services, programs, and capital projects for the people of Wappinger. Even in spite of the COVID-19 pandemic, the Town of Wappinger and its greater economy, faired very well due to the strong leadership and management of this administration and the Town’s dedicated employees.

“It is very gratifying to see a highly reputable Agency like Standard and Poors, rate the Town Management so very highly. The very strong acknowledgment of the focused and dedicated efforts of our officials and staff to preserve and protect our fiscal soundness, promote many initiatives to preserve and protect our environment and Town from a variety of risks, and to mitigate against damage to our community is very satisfying.” stated Supervisor Thurston.

A copy of the full Standard & Poors report, that has profoundly stated that the fiscal, managerial, and economic outlook of the Town is positive, is available here  on the Town’s website.

View the S&P Global Ratings Report on the Town of Wappinger

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