February 2014

Moody’s Removes Negative Outlook On City’s Bond Rating

February 13, 2014 - 23:48

NEW ROCHELLE, NY -- Moody’s Investors Services has confirmed the existing rating of Aa3 to the City of New Rochelle’s upcoming bond issue and has removed the negative outlook designation first assigned in 2011. The removal of this designation enhances the credit worthiness of the City’s debt and means that the City will enjoy lower interest costs on general obligation bonds that may be issued in the future.