S&P raises Westbury's bond rating to AA

The Village of Westbury received an upgrade to its bond rating from Standard & Poor’s this month, going from AA- to AA, the village announced.

After officials’ presentation to S&P detailing village finances, the agency raised the bond rating to the highest the village has had so far, Mayor Peter I. Cavallaro said in a statement.

Village officials said the move is especially welcome, as the village is attempting to refinance about $2 million in bonds it holds to reduce the amount of interest it pays.