Lindenhurst Assigned Aa3 Rating From Moody's Investors Service

Lindenhurst NY

30 September, 2021

10:35 AM

Description

LINDENHURST, NY — The Village of Lindenhurst is keeping a high credit score, according to a report by the bond credit rating business Moody's Investors Service. Moody's recently announced its economy has maintained a "high quality credit position" and an Aa3 credit rating, the village said in a release. According to Nasdaq, Aa3 is the fourth-highest rating in Moody's long-term corporate obligation ratings. Recipients of this rating are subject to very low credit risk, Nasdaq added. In addition, Moody's stated that the village's debt and pension burdens are lower than the U.S. median. "The Moody's report confirms that we have run a strong financial program over the past few years, even during the economic downturn and the burdens imposed on Lindenhurst by the COVID-19 pandemic," said Lindenhurst Village Trustee Patrick Pichichero. Moody's also stated that the economy and tax base and the financial position of the village are very healthy.