Moody's Reaffirms Town of Islip's AAA Rating

Moody’s Analytics recently reaffirmed the Town of Islip’s financial rating which was recently upgraded in March to a AAA status with a stable outlook.

Town Supervisor Angie Carpenter and staff met in March with representatives from Moody’s to analyze the Town’s financial document.

At that time Moody’s upgraded the Town’s bond rating to AAA, the highest rating that can be assigned to a municipality.

This week, Moody’s announced that they have affirmed the Town of Islip’s current bond rating.

Moody's, which determines the financial health of any given organization, has assigned the rating to the Town of Islip's $18.9 million Public Improvement Refunding Serial Bonds, 2016 Series A and $24.5 million Public Improvement Serial Bonds, 2016 Series B, according to the company.

Moody's maintains the rating on the town's $146 million General Obligation debt outstanding and claimed that the outlook is stable.

“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 "We have instituted zero based budgeting to our spending plans, assuring that no projects move forward unless they are deemed essential. These are the strategies that enabled us to get the upgrade last year, and with this in mind, we have been working on the 2017 budget."