Supervisor Chad A. Lupinacci has announced that the Town of Huntington has maintained its AAA bond rating from both Standard & Poor’s and Moody’s Investors Services.
“Huntington is one of the few towns rated AAA-stable by both agencies,” said Supervisor Lupinacci. “I thank Moody’s and Standard and Poor’s for their analysis and recognition of Huntington’s fiscal practices, as this is an achievement that will help us provide services in a cost-effective manner.”
Standard & Poor’s and Moody’s Investors Services maintained the Town of Huntington’s AAA bond rating in reports issued on September 21, 2018.
“The stable outlook reflects S&P Global Ratings’ opinion of Huntington’s very strong economy,” the S&P Global Ratings’ report stated, citing their reasoning as to why they expect to maintain Huntington’s AAA rating for the next two years: “We believe strong management practices and policies underpin Huntington’s commitment to maintaining structural balance and strong available reserves, providing additional stability.”
Moody’s Investors Service issued Huntington’s AAA-rating, citing the Town’s “improved financial position,” stating the “town’s debt burden remains below the median for similarly rated credits,” and “the town maintains a low pension liability.” The report issued a stable outlook for Huntington due to its “expectation of continued economic stability” and “projected financial stability given the town’s intent to maintain reserves at current levels.”