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Release Date: August 15, 2004

GreenburghTown Supervisor Paul Feinerannounced that Moody’s has assigned Greenburgh a Aa1 rating – the 2nd highest rating. “Moody’s expects the town to maintain strong financial operations given a trend of prudent fiscal management, maintenance of ample levels of reserves, and an excellent property tax collection rate.” The town is responsible for collecting and guaranteeing property taxes for WestchesterCountyand local school and fire districts. Moody’s believes that the town’s direct burden will remain below average given rapid principal payout (78% in 10 years). The town’s overall debt burden, including all overlapping obligations, is a modest 1.9%.


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