Moody's retains Town of Islip's AAA bond rating
Ratings agency Moody’s Investor Services has maintained the town of Islip’s bond rating at AAA with a stable outlook, the agency announced Thursday.
The rating “reflects a sound financial position, large tax base poised for future growth, above-average wealth indicators and manageable debt,” according to Moody’s. The stable outlook “reflects the expectation of continued strong operations given prudent management and continued growth and diversification in the local economy.”
“I am pleased that together with the cooperation of the Town Board, we were able to establish a strong budget process. We worked closely with our Commissioners to tighten budgets as necessary, making certain that each and every taxpayer dollar spent is done with the utmost scrutiny,” Carpenter said in a press release Friday. “Our willingness to look at the process realistically is something that has had a positive impact with the rating agencies. The goal always has to be to maximize our revenues and decrease our expenditures.”