Yonkers get A+ bond from financial bond agency
Mayor Mike Spano announced Tuesday that leading financial bond agency S&P Global Ratings upgraded the City of Yonkers to an 'A+', stable outlook.
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Nov 16, 2022, 12:47 PM
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Updated 618 days ago
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2ds agoThe financial status of the city of
Yonkers is improving.
Mayor Mike Spano announced Tuesday
that leading financial bond agency S&P Global Ratings upgraded the City of
Yonkers to an 'A+', stable outlook.
This is revised from an 'A', stable
outlook in 2021.
S&P Global Ratings reassigned an 'A+' rating to City of Yonkers' general obligation bonds and the
city's school debt.
According to S&P, the leading
factor for the city's rating is "its improved management conditions, as
evidenced by several years of balanced-to-positive budgetary performance that
bolstered reserves to the highest nominal amount in recent history, positioning
the city to absorb the phase-out of federal stimulus funds, as well as slower
economic growth in the first half of calendar 2023."
