Moody's Reaffirms Aaa Rating For Eastchester

EASTCHESTER, NY — The town of Eastchester recently saw its bond rating reaffirmed by Moody's Investors Services.

On Friday, the bond rating company said the town has a bond rating of Aaa, which reflect the town's strong financial position due to conservative budgeting and strong operational oversight.

Moody's has concurrently assigned a stable outlook.

The rating applies to the new bond issue and any outstanding debt the town currently has.

Eastchester town Supervisor Anthony Colavita said he and the town comptroller have kept a tight rein on the town's finances during challenging economic times.

The stable outlook reflects expectations of continued strong operations given the town's prudent management.

Colavita said the town was delighted to be given the highest rating a municipal government can obtain from Moody's.

"Receiving the lowest interest rates on our bonds translates directly to tax savings and more capital improvements," he said.