Moody’s Bond Ratings For Cities,

Counties, Towns and Villages In

New York State
February 2022 Update

Albany Research In Public Administration (ARPA)

Report Number 2022-4
March 1, 2022
Prepared by Kevin M. Bronner, Ph.D.
Albany, New York

www.albanyrpa.com
Albany Research In Public Administration Page 1
 Moody’s Bond Ratings Update

Moody’s Investors Service published 7 long-term bond ratings reports for cities, counties,

towns and villages’ bonds in the State of New York during the month. A recap of the rating

activity shows:

Upgrades 2
Downgrades 0
No Change 5
Initial Rating Assigned 0
Ratings Withdrawn 0

The following entities had bond rating action reports during the month:

Counties:
- None.

Cities:
- City of Yonkers bonds rated A3, 2/25/22.
-City of Rochester bonds upgraded to A1 from A2, 2/23/22. The upgrade reflects improved
budgetary management, governance and financial operations and reserves, a substantial tax base
and manageable long-term liabilities.
-City of Long Beach bonds assigned a Baa3 bond rating with outlook revised to positive, 2/2/22.

Towns:
-Town of Fishkill bonds upgraded to Aa1 from Aa2, 2/15/22. The upgrade reflects the existence
of strong liquidity and fund balances, and conservative budgeting. Other factors include growth
in major revenues sources such as state aid, sales tax, and mortgage tax, a growing population,

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solid wealth metrics, affordable housing in the community, modest levels of debt, pensions, other
post-employment benefits, and modest fixed costs.
-Town of Union bonds assigned an Aa2 bond rating, 2/2/22.
-Town of Smithtown bonds assigned an Aaa bond rating with a stable outlook, 2/28/22.

Villages:
- Village of Sands Point bonds assigned an Aa1 rating, 2/18/22.

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