RVC Receives Top Bond Rating From Standard & Poor's

Rockville Centre NY

25 May, 2022

1:58 PM

Description

ROCKVILLE CENTRE, NY — The village of Rockville Centre has received the highest possible bond rating from one of the nation's top credit services. Standard & Poor's (S&P) Global Ratings has given Rockville Centre the AAA rating for public improvement bonds. The rating secures a lower interest rate on bonds, while reducing the cost to taxpayers. "I am extremely proud of the Village's S&P rating, Mayor Francis Murray said in a statement. "My administration has worked diligently to bring about fiscal discipline to the operation of our village while not impacting services." S&P also handed out its "SP-1+" to the village's bond anticipation notes. The S&P report stated that the rating reflects good financial management policies and practices, along with taking into account, recurring surpluses and strong reserves, a statement from the village of Rockville Centre said. "The Rockville Centre's strong financial position is a reflection of the Village's leadership and support of our Mayor and Board of Trustees," Comptroller Dennis Morgan said. "We are pleased that S&P recognized the importance of our strong financial practices that have been verified as effective even during the Covid-19 pandemic."