Government Briefs 06.07.18

Southampton Town Gets AAA Rating

Southampton Town received a AAA credit rating from Standard and Poor’s on May 30. The rating, the agency’s highest, was assigned to the town’s 2018 municipal bonds, which will be used to finance infrastructure projects as well as improvements to parks and beaches, public safety, and technology. According to a report released by the agency, the rating reflects the view that the town is “very strong” in terms of its economy, management, fiscal policies, budgetary performance, liquidity, and debt position. Standard and Poor’s also deemed the town “stable,” meaning the agency does not expect the rating to change within the next two years.

 In a statement celebrating the news, Supervisor Jay Schneiderman said, “On behalf of the town board, I extend my congratulations and sincere thanks to the staff in all town departments for their collective efforts in maintaining this highest achievement.”