Bond Rating for Town of Eastchester Upgraded by Moody's

By Anthony S. Colavita, Supervisor, Town of Eastchester
Aug. 19, 2015: On July 10, Moody's Investors Services upgraded the Town of Eastchester bond rating from Aa1 to Aaa. The upgrade applies to the new bond issue and any outstanding debt the town has.
The upgrade is a reflection on the conservative nature of the town's management team philosophy. The town supervisor, town board, and town comptroller have kept a tight rein on the town's finances during these difficult economic times. The rating also factors in a low debt burden.
Town Supervisor Anthony Colavita stated, "We have been able to keep Eastchester affordable while preserving a high level of services, despite unfunded state mandates. We will continue to do our best to keep our town fiscally strong."
Over the past five years, management has shown a willingness and ability to bring the budget into structural balance despite rising health care and pension costs. This was accomplished through a combination of conservative budgeting of economically sensitive revenues, revenue enhancements, and expenditure reductions.
Pictured here: Eastchester Town Hall.
Photo by A. Warner







