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Moody's Investors Service has reaffirmed the City of White Plains Aa1 Stable tax rating. The City has maintained this rating since June 2013. Moody's specifically cited the City's "solid reserves and liquidity driven by conservative budget management and sound fiscal practices" in their decision to reaffirm the Aa1 Stable rating.
White Plains Mayor Tom Roach said, "We have worked hard to produce budgets that are fiscally sound and which do not rely on gimmicks or one-shots. This rating is a recognition of that diligent work. We take very seriously our obligation to use our residents' tax dollars and other revenues in a responsible and transparent manner."
Common Council President and Chair of the City's Budget & Management Advisory Committee John Martin said, "The reaffirmation of the City's Aa1 Stable rating demonstrates the City's commitment to work within a tight budget environment, constantly looking for ways in which we can continue to provide quality services in a more efficient manner for our residents."
Access the Moody's press release here: https://www.moodys.com/research/Moodys-assigns-Aa1-to-White-Plains-NYs-GOLT-Bonds--PR_906095269