Moody’s Upgrades Livingston Credit Rating, Cites ‘Strong Local Economy’

LIVINGSTON, NJ — Livingston’s municipal finances recently got a thumbs-up from Moody's Ratings.

Moody’s upgraded the township’s issuer and general obligation unlimited tax (GOULT) ratings on Oct. 30 from Aa2 to Aa1 – it’s second-highest.

According to Livingston town officials, the new rating will help to save taxpayer money.

“In practical terms, the higher rating translates to greater investor demand for township bonds and notes, often resulting in more competitive bidding and lower borrowing costs,” the township stated.

“These savings help the township maintain critical infrastructure and services while easing pressure on the property tax rate,” officials added.

Why did Livingston get a boost from Moody’s? Here’s what the credit agency said:

“The upgrade to Aa1 reflects the township's strong local economy, supported by robust resident wealth and income levels, and its strong appeal as a desirable suburb stemming from its favorable location with convenient access to major employment hubs, an affluent community, a highly regarded school system, and a well-balanced mix of residential and commercial activity. The upgrade also reflects the township's successful efforts to improve reserves to a healthier position while leverage has moderated to more acceptable levels.”

Moody’s also noted that the township’s improved reserves and moderated debt levels contributed to the upgrade. The rating agency assigned a MIG 1 short-term rating—its highest—for Livingston’s 2025 Bond Anticipation Notes.

“This upgrade is great news for all Livingston residents,” Township Manager Barry Lewis said. “It confirms that our financial practices are strong, our local economy is thriving, and that investors view Livingston as an extremely stable and desirable community.”

Mayor Ed Meinhardt said the upgrade from Moody’s reflects “years of careful planning and responsible budgeting” – as well as the “shared commitment of our council, management team and community to ensuring Livingston remains financially sound.”

“We are very proud of this recognition,” Township Chief Financial Officer Ann Cucci agreed.

“These ratings not only strengthen Livingston’s reputation in the investment community but also help ensure we can continue to deliver quality services while minimizing the financial burden on taxpayers,” Cucci said.

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