WAPPINGER, N.Y. -- The Town of Wappinger’s bond rating has been upgraded by Standard & Poor’s to AA+, according to the Poughkeepsie Journal.
The financial services firm had previously given Wappinger an AA rating. The upgrade reflected the town’s sustained operating surpluses, which have supported an increase in available reserves that are reinforced by recently adopted reserve and debt policies, the Poughkeepsie Journal reported.
Town Supervisor Lori Jiava, who took office in January 2016, said Wednesday that she was thrilled about the improved rating and believed it was recognition of the town’s efforts to bring down its debt through more aggressive policies, according to the Poughkeepsie Journal.
Several factors were cited by Standard & Poor's for Wappinger's improved bond rating, including the town’s strong economy, management and budgetary flexibility, as well as its very strong budgetary flexibility and liquidity, the Poughkeepsie Journal reported.