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The original item was published from 5/9/2017 1:34:23 PM to 5/10/2018 12:00:01 AM.

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Posted on: May 9, 2017

[ARCHIVED] Moody’s Cites Strong Fiscal Position for Village of Hempstead

Moody’s Investors Service Upholds Village’s A1 Credit Rating for the 3rd consecutive year

Village of Hempstead Mayor Don Ryan and the Board of Trustees announced today that the Village of Hempstead has reaffirmed its credit rating of A1 for the third consecutive year based on recent analysis filed by Moody’s Investor Service. The A1 bond rating, reconfirms the Village’s strong financial position.

According to the Moody’s report, “Hempstead Village has a sound credit position....The rating reflects a strong financial position, a healthy socioeconomic profile and tax base, and moderate debt and pension liabilities.”

“Strong finances and a balanced budget are key for Hempstead’s success,” said Mayor Don Ryan. “Maintaining the Village’s bond rating is part of my ongoing mission to support residents and build a strong local economy.”

In 2014, the Village of Hempstead’s credit rating increased from A2 to A1. The A1 rating is an investment-grade score based on the fiscal health and stability of the Village. The Village’s strong Moody’s rating acknowledges the fiscally responsible philosophy behind the Villages’ management and financial practices.

“In today’s economic climate, when corporate and government entities are being downgraded throughout the country, it is a testament to the Village of Hempstead’s excellent fiscal management that is has continued to maintain such a Moody’s bond rating,” said Mayor Ryan. “One of my priorities as Mayor is to build on this success by bringing high quality careers to Village residents and expanding our tax base.”

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